Jackson Square Capital LLC Acquires New Holdings in TC Energy Co. (NYSE:TRP)

Jackson Square Capital LLC purchased a new position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 16,635 shares of the pipeline company's stock, valued at approximately $775,000.

A number of other large investors also recently modified their holdings of TRP. Intech Investment Management LLC raised its stake in TC Energy by 14.3% during the 2nd quarter. Intech Investment Management LLC now owns 32,936 shares of the pipeline company's stock valued at $1,248,000 after purchasing an additional 4,127 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in TC Energy by 4.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 15,708 shares of the pipeline company's stock worth $596,000 after buying an additional 703 shares in the last quarter. AE Wealth Management LLC increased its stake in TC Energy by 9.4% during the second quarter. AE Wealth Management LLC now owns 8,550 shares of the pipeline company's stock valued at $324,000 after acquiring an additional 738 shares during the period. Westwood Holdings Group Inc. raised its holdings in TC Energy by 650.5% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,526,365 shares of the pipeline company's stock valued at $57,849,000 after acquiring an additional 1,322,976 shares in the last quarter. Finally, Ensign Peak Advisors Inc lifted its position in shares of TC Energy by 3.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 67,607 shares of the pipeline company's stock worth $2,656,000 after acquiring an additional 2,200 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on TRP. BMO Capital Markets upped their target price on TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a research note on Wednesday, November 20th. Veritas raised shares of TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. TD Securities initiated coverage on shares of TC Energy in a research note on Wednesday. They issued a "buy" rating on the stock. JPMorgan Chase & Co. raised TC Energy from a "neutral" rating to an "overweight" rating in a research note on Monday, October 14th. Finally, Morgan Stanley upgraded TC Energy from an "underweight" rating to an "overweight" rating in a research note on Friday, October 25th. 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 company's stock. According to data from MarketBeat.com, TC Energy currently has an average rating of "Hold" and an average target price of $55.67.

TC Energy Price Performance

Shares of TC Energy stock traded up $1.22 during trading on Friday, reaching $47.39. The company's stock had a trading volume of 3,422,631 shares, compared to its average volume of 1,534,485. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37. The stock has a 50-day moving average price of $47.59 and a two-hundred day moving average price of $45.62. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $49.23 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 4.31 and a beta of 0.82.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. As a group, sell-side analysts anticipate that TC Energy Co. will post 2.95 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from TC Energy's previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a yield of 6.94%. TC Energy's dividend payout ratio (DPR) is presently 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.