Ritholtz Wealth Management Purchases 7,412 Shares of TC Energy Co. (NYSE:TRP)

Ritholtz Wealth Management increased its position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 44.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,957 shares of the pipeline company's stock after buying an additional 7,412 shares during the period. Ritholtz Wealth Management's holdings in TC Energy were worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TRP. Fortitude Family Office LLC acquired a new position in shares of TC Energy in the third quarter valued at $28,000. Blue Trust Inc. grew its stake in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock valued at $30,000 after buying an additional 267 shares during the last quarter. Versant Capital Management Inc bought a new position in TC Energy in the 4th quarter valued at about $33,000. Point72 DIFC Ltd acquired a new stake in TC Energy during the third quarter worth approximately $39,000. Finally, Farther Finance Advisors LLC grew its position in shares of TC Energy by 215.7% in the third quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company's stock valued at $57,000 after purchasing an additional 826 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on TRP. UBS Group raised TC Energy from a "neutral" rating to a "buy" rating in a report on Monday, September 30th. BMO Capital Markets boosted their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a research report on Wednesday, November 20th. StockNews.com started coverage on shares of TC Energy in a research report on Wednesday, December 4th. They set a "hold" rating on the stock. Veritas raised shares of TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. Finally, TD Securities initiated coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a "buy" rating on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, TC Energy presently has an average rating of "Hold" and a consensus target price of $55.67.

TC Energy Price Performance

Shares of TC Energy stock traded up $1.22 on Monday, reaching $47.39. 3,422,631 shares of the stock were exchanged, compared to its average volume of 1,534,485. The firm's 50 day moving average is $47.59 and its 200-day moving average is $45.67. The firm has a market cap of $49.23 billion, a PE ratio of 13.13, a P/E/G ratio of 4.31 and a beta of 0.82. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. As a group, analysts anticipate that TC Energy Co. will post 2.95 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a yield of 6.94%. The ex-dividend date is Tuesday, December 31st. This is a boost from TC Energy's previous quarterly dividend of $0.70. TC Energy's payout ratio is currently 63.43%.

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.