Korea Investment CORP Purchases 325,627 Shares of TC Energy Co. (NYSE:TRP)

Korea Investment CORP grew its stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 108.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 625,606 shares of the pipeline company's stock after acquiring an additional 325,627 shares during the period. Korea Investment CORP owned about 0.06% of TC Energy worth $29,140,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings 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 acquired a new stake in TC Energy during the 4th quarter valued at $33,000. Synergy Investment Management LLC purchased a new stake in shares of TC Energy in the fourth quarter valued at $36,000. Point72 DIFC Ltd acquired a new stake in shares of TC Energy in the third quarter worth $39,000. Finally, Millstone Evans Group LLC purchased a new position in shares of TC Energy during the fourth quarter valued at $41,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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TC Energy Stock Performance

Shares of NYSE:TRP traded up $0.74 during midday trading on Wednesday, hitting $48.54. The company's stock had a trading volume of 384,841 shares, compared to its average volume of 2,112,317. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The stock has a market capitalization of $50.45 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 4.34 and a beta of 0.83. The stock's 50 day simple moving average is $46.54 and its 200 day simple moving average is $46.97.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates 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 company earned $1.35 earnings per share. As a group, research analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 7.00%. This is a positive change from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. TC Energy's dividend payout ratio (DPR) is currently 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.