Guardian Partners Inc. Takes $8.61 Million Position in TC Energy Co. (NYSE:TRP)

Guardian Partners Inc. bought a new stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 180,386 shares of the pipeline company's stock, valued at approximately $8,614,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in TC Energy during the fourth quarter valued at about $31,000. Versant Capital Management Inc bought a new position in shares of TC Energy during the 4th quarter valued at about $33,000. Synergy Investment Management LLC purchased a new position in shares of TC Energy during the 4th quarter valued at about $36,000. Point72 DIFC Ltd bought a new stake in TC Energy in the 3rd quarter worth approximately $39,000. Finally, Millstone Evans Group LLC purchased a new stake in TC Energy in the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

Wall Street Analysts Forecast Growth

TRP has been the topic of several research reports. Royal Bank of Canada lifted their price target on shares of TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. TD Securities started coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a "buy" rating for the company. StockNews.com downgraded TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Finally, Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $62.00.

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TC Energy Trading Down 0.4 %

NYSE:TRP traded down $0.18 during mid-day trading on Thursday, reaching $48.27. 1,122,035 shares of the company's stock traded hands, compared to its average volume of 2,464,388. The company has a 50 day moving average price of $46.53 and a 200-day moving average price of $46.93. The firm has a market capitalization of $50.16 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 4.34 and a beta of 0.83. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. TC Energy Co. has a 12-month low of $34.95 and a 12-month high of $50.37.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.54. The firm had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the previous year, the firm earned $1.35 earnings per share. On average, sell-side analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.85 per share. This is a positive change from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.04%. TC Energy's payout ratio is presently 72.53%.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.