O Shaughnessy Asset Management LLC boosted its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 7.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 224,829 shares of the pipeline company's stock after acquiring an additional 16,334 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in TC Energy were worth $10,463,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new stake in shares of TC Energy in the fourth quarter valued at about $31,000. Versant Capital Management Inc purchased a new position in TC Energy in the fourth quarter worth $33,000. Synergy Investment Management LLC bought a new position in TC Energy in the 4th quarter valued at $36,000. Point72 DIFC Ltd purchased a new stake in shares of TC Energy during the 3rd quarter valued at $39,000. Finally, Millstone Evans Group LLC bought a new stake in shares of TC Energy during the 4th quarter worth $41,000. Institutional investors and hedge funds own 83.13% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on TRP shares. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. TD Securities initiated coverage on TC Energy in a research report on Wednesday, January 15th. They issued a "buy" rating for the company. Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note 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. Finally, Royal Bank of Canada boosted their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, TC Energy has a consensus rating of "Moderate Buy" and an average target price of $62.00.
Read Our Latest Research Report on TC Energy
TC Energy Price Performance
NYSE TRP traded up $0.03 on Thursday, hitting $48.75. The stock had a trading volume of 4,826,194 shares, compared to its average volume of 2,635,808. The firm has a 50-day moving average of $46.57 and a 200-day moving average of $46.98. 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 52-week low of $34.95 and a 52-week high of $50.37. The company has a market capitalization of $50.66 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter last 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 6.97%. This is a boost from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy's dividend payout ratio is 72.53%.
About TC Energy
(
Free Report)
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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