Ingalls & Snyder LLC Increases Position in TC Energy Co. (NYSE:TRP)

Ingalls & Snyder LLC raised its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 92.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,665 shares of the pipeline company's stock after purchasing an additional 10,425 shares during the quarter. Ingalls & Snyder LLC's holdings in TC Energy were worth $1,008,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRP. Creative Planning increased its position in shares of TC Energy by 4.1% during the third quarter. Creative Planning now owns 46,779 shares of the pipeline company's stock worth $2,224,000 after acquiring an additional 1,829 shares during the period. Blue Trust Inc. increased its position in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock worth $30,000 after acquiring an additional 267 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of TC Energy by 26.0% during the third quarter. Sequoia Financial Advisors LLC now owns 9,651 shares of the pipeline company's stock worth $459,000 after acquiring an additional 1,993 shares during the period. Signaturefd LLC increased its position in shares of TC Energy by 15.6% during the third quarter. Signaturefd LLC now owns 18,929 shares of the pipeline company's stock worth $900,000 after acquiring an additional 2,556 shares during the period. Finally, Eastern Bank purchased a new position in shares of TC Energy during the third quarter worth approximately $166,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TRP has been the topic of a number of research reports. Morgan Stanley raised shares of TC Energy from an "underweight" rating to an "overweight" rating in a research report on Friday, October 25th. 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. The Goldman Sachs Group increased their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a research note on Monday, October 21st. StockNews.com initiated coverage on shares of TC Energy in a research note on Wednesday, December 4th. They set a "hold" rating on the stock. Finally, TD Securities initiated coverage on shares of TC Energy in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, TC Energy has an average rating of "Hold" and an average target price of $56.00.

TC Energy Stock Down 2.8 %

TRP traded down $1.35 during trading on Monday, hitting $46.05. The stock had a trading volume of 3,448,624 shares, compared to its average volume of 2,186,209. The company has a market capitalization of $47.85 billion, a PE ratio of 12.76, a PEG ratio of 4.45 and a beta of 0.81. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The stock has a 50 day simple moving average of $46.61 and a two-hundred day simple moving average of $46.58.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. During the same period last year, the firm earned $1.35 earnings per share. On average, research analysts predict that TC Energy Co. will post 2.92 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 7.38%. This is an increase from TC Energy's previous quarterly dividend of $0.82. TC Energy's dividend payout ratio (DPR) is 63.43%.

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.