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

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

Other large investors also recently modified their holdings of the company. Addenda Capital Inc. grew its stake in shares of TC Energy by 4.4% during the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company's stock worth $48,135,000 after purchasing an additional 43,639 shares in the last quarter. Captrust Financial Advisors raised its position in shares of TC Energy by 1.3% during the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company's stock worth $871,000 after acquiring an additional 242 shares in the last quarter. Ritholtz Wealth Management lifted its stake in TC Energy by 44.8% during the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company's stock worth $1,115,000 after purchasing an additional 7,412 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in TC Energy during the third quarter worth approximately $3,771,000. Finally, Exchange Traded Concepts LLC boosted its holdings in TC Energy by 7.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,034,698 shares of the pipeline company's stock valued at $48,144,000 after purchasing an additional 71,955 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

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TC Energy Price Performance

Shares of NYSE TRP traded down $0.38 during midday trading on Tuesday, hitting $48.89. The company had a trading volume of 1,307,855 shares, compared to its average volume of 2,540,998. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The business has a 50-day simple moving average of $46.40 and a two-hundred day simple moving average of $46.89. TC Energy Co. has a twelve month low of $34.95 and a twelve month high of $50.37. The firm has a market capitalization of $50.80 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the company earned $1.35 EPS. Equities research analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.85 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 6.95%. This is a boost from TC Energy's previous quarterly dividend of $0.82. TC Energy's dividend payout ratio (DPR) is currently 72.53%.

Wall Street Analyst Weigh In

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

TC Energy 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.