Mufg Securities Canada LTD. Grows Holdings in TC Energy Co. (NYSE:TRP)

Mufg Securities Canada LTD. lifted its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 571.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,184,832 shares of the pipeline company's stock after purchasing an additional 5,264,079 shares during the period. TC Energy comprises approximately 10.4% of Mufg Securities Canada LTD.'s investment portfolio, making the stock its largest holding. Mufg Securities Canada LTD. owned 0.60% of TC Energy worth $288,043,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans bought a new stake in shares of TC Energy in the third quarter valued at $236,000. Prospera Financial Services Inc raised its stake in TC Energy by 4.8% in the 3rd quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company's stock valued at $274,000 after acquiring an additional 262 shares during the period. Citigroup Inc. lifted its holdings in TC Energy by 73.9% during the third quarter. Citigroup Inc. now owns 166,822 shares of the pipeline company's stock valued at $7,939,000 after purchasing an additional 70,905 shares during the last quarter. Cerity Partners LLC boosted its position in TC Energy by 72.9% during the third quarter. Cerity Partners LLC now owns 20,538 shares of the pipeline company's stock worth $977,000 after purchasing an additional 8,660 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of TC Energy in the third quarter worth about $530,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

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TC Energy Price Performance

Shares of TRP traded down $0.25 during trading hours on Friday, reaching $48.02. 1,683,361 shares of the company's stock traded hands, compared to its average volume of 2,660,872. TC Energy Co. has a 12 month low of $34.95 and a 12 month high of $50.37. 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 stock has a market cap of $49.90 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The firm's 50 day simple moving average is $46.54 and its 200-day simple moving average is $46.94.

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

TC Energy Increases Dividend

The company also recently announced 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 represents a $3.40 dividend on an annualized basis and a yield of 7.08%. 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 is currently 72.53%.

Analyst Ratings Changes

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

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.