Premier Fund Managers Ltd Grows Stake in TC Energy Co. (NYSE:TRP)

Premier Fund Managers Ltd raised its stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 56.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,000 shares of the pipeline company's stock after purchasing an additional 18,000 shares during the period. Premier Fund Managers Ltd's holdings in TC Energy were worth $2,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in TC Energy in the fourth quarter worth $31,000. Versant Capital Management Inc bought a new position in shares of TC Energy during the fourth quarter valued at approximately $33,000. Synergy Investment Management LLC bought a new position in shares of TC Energy in the 4th quarter worth $36,000. Point72 DIFC Ltd purchased a new stake in shares of TC Energy during the third quarter valued at about $39,000. Finally, Millstone Evans Group LLC purchased a new position in shares of TC Energy in the 4th quarter worth approximately $41,000. 83.13% of the stock is owned by institutional investors.

TC Energy Trading Up 0.8 %

NYSE:TRP traded up $0.39 on Tuesday, hitting $47.60. The stock had a trading volume of 531,235 shares, compared to its average volume of 2,122,185. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The stock has a market cap of $49.47 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 4.34 and a beta of 0.83. The company has a fifty day moving average price of $46.53 and a two-hundred day moving average price of $46.96. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

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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, beating the consensus estimate of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter last year, the company posted $1.35 EPS. Equities research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 7.14%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from TC Energy's previous quarterly dividend of $0.82. TC Energy's dividend payout ratio (DPR) is presently 72.53%.

Analyst Ratings Changes

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

About TC Energy

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.