NewEdge Advisors LLC Increases Stock Position in TC Energy Co. (NYSE:TRP)

NewEdge Advisors LLC increased its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 27.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,566 shares of the pipeline company's stock after buying an additional 14,034 shares during the quarter. NewEdge Advisors LLC's holdings in TC Energy were worth $3,051,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRP. SBI Securities Co. Ltd. acquired a new position in shares of TC Energy in the 4th quarter valued at about $31,000. Versant Capital Management Inc acquired a new position in TC Energy during the fourth quarter valued at approximately $33,000. Synergy Investment Management LLC purchased a new stake in TC Energy during the fourth quarter worth approximately $36,000. Millstone Evans Group LLC acquired a new stake in shares of TC Energy in the fourth quarter worth $41,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of TC Energy in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 83.13% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on TRP shares. Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. StockNews.com lowered TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. TD Securities began coverage on TC Energy in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Citigroup began coverage on TC Energy in a report on Friday, April 4th. They issued a "neutral" rating for the company. Finally, Royal Bank of Canada boosted their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Stock Performance

Shares of TC Energy stock opened at $49.44 on Monday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. TC Energy Co. has a 1 year low of $35.38 and a 1 year high of $50.37. The firm's 50-day simple moving average is $46.78 and its 200-day simple moving average is $47.03. The firm has a market cap of $51.39 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.54. The firm had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter in the prior year, the firm posted $1.35 earnings per share. Equities analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from TC Energy's previous quarterly dividend of $0.82. TC Energy's payout ratio is currently 72.84%.

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.

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