Natixis Advisors LLC Boosts Stock Position in TC Energy Co. (NYSE:TRP)

Natixis Advisors LLC increased its stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 40.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 69,520 shares of the pipeline company's stock after acquiring an additional 20,082 shares during the quarter. Natixis Advisors LLC's holdings in TC Energy were worth $3,235,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of TRP. SBI Securities Co. Ltd. purchased a new stake in TC Energy during the 4th quarter valued at $31,000. Versant Capital Management Inc purchased a new position in shares of TC Energy during the 4th quarter worth about $33,000. Synergy Investment Management LLC bought a new position in TC Energy during the 4th quarter valued at about $36,000. Point72 DIFC Ltd bought a new stake in TC Energy in the third quarter worth about $39,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of TC Energy during the fourth quarter valued at approximately $46,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Down 0.8 %

Shares of TRP traded down $0.38 during midday trading on Tuesday, reaching $48.89. 1,401,231 shares of the stock were exchanged, compared to its average volume of 2,529,672. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The company's 50 day moving average is $46.45 and its two-hundred day moving average is $46.91. The company has a market capitalization of $50.80 billion, a P/E ratio of 15.09, a PEG ratio of 4.34 and a beta of 0.83. TC Energy Co. has a 52 week low of $34.95 and a 52 week high of $50.37.

Remove Ads

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

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.85 dividend. This is an increase from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a yield of 6.95%. TC Energy's payout ratio is 72.53%.

Wall Street Analyst Weigh In

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

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.