Tribune Investment Group LP Invests $4.28 Million in TC Energy Co. (NYSE:TRP)

Tribune Investment Group LP purchased a new position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 92,000 shares of the pipeline company's stock, valued at approximately $4,281,000. TC Energy accounts for about 2.4% of Tribune Investment Group LP's investment portfolio, making the stock its 20th biggest holding.

A number of other institutional investors have also made changes to their positions in TRP. SBI Securities Co. Ltd. acquired a new position in shares of TC Energy in the fourth quarter worth approximately $31,000. Versant Capital Management Inc acquired a new position in shares of TC Energy during the fourth quarter valued at about $33,000. Synergy Investment Management LLC acquired a new position in TC Energy during the 4th quarter valued at about $36,000. Millstone Evans Group LLC bought a new position in shares of TC Energy in the fourth quarter valued at approximately $41,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of TC Energy during the fourth quarter valued at approximately $46,000. Institutional investors own 83.13% of the company's stock.

Analyst Ratings Changes

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

TC Energy Price Performance

TRP traded up $0.54 during trading on Friday, reaching $49.44. 3,376,859 shares of the company traded hands, compared to its average volume of 2,618,907. The firm has a fifty day simple moving average of $46.73 and a 200 day simple moving average of $46.99. TC Energy Co. has a 12-month low of $34.95 and a 12-month high of $50.37. The company has a market cap of $51.39 billion, a P/E ratio of 15.26, a PEG ratio of 4.34 and a beta of 0.74. 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 (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.54. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter in the previous year, the company posted $1.35 EPS. On average, equities analysts forecast that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.85 dividend. This is a boost from TC Energy's previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a dividend yield of 6.88%. The ex-dividend date is Monday, March 31st. TC Energy's dividend payout ratio (DPR) is currently 72.84%.

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.