Syon Capital LLC Invests $236,000 in TC Energy Co. (NYSE:TRP)

Syon Capital LLC acquired a new position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,077 shares of the pipeline company's stock, valued at approximately $236,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of TC Energy by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company's stock valued at $2,035,952,000 after purchasing an additional 734,678 shares during the period. FIL Ltd grew its stake in TC Energy by 10.3% in the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock valued at $1,325,558,000 after buying an additional 2,644,627 shares in the last quarter. TD Asset Management Inc. raised its holdings in TC Energy by 2.1% during the 4th quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company's stock valued at $765,627,000 after acquiring an additional 344,485 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of TC Energy by 9.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company's stock worth $686,763,000 after acquiring an additional 1,280,000 shares in the last quarter. Finally, Norges Bank bought a new position in shares of TC Energy in the fourth quarter worth $428,759,000. 83.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TRP. Royal Bank of Canada increased their price objective on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. StockNews.com lowered shares of TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. TD Securities began coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. Finally, Citigroup initiated coverage on shares of TC Energy in a research report on Friday, April 4th. They set a "neutral" rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Price Performance

TRP stock opened at $49.61 on Friday. The firm has a 50 day simple moving average of $47.03 and a two-hundred day simple moving average of $47.16. The stock has a market cap of $51.58 billion, a PE ratio of 15.31, a P/E/G ratio of 4.34 and a beta of 0.74. TC Energy Co. has a one year low of $35.38 and a one year high of $50.37. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced 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 during the quarter, compared to analyst estimates of $2.42 billion. During the same period in the previous year, the business earned $1.35 earnings per share. On average, analysts predict that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from TC Energy's previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 6.85%. TC Energy's dividend payout ratio is 72.84%.

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.

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