Vident Advisory LLC Acquires Shares of 158,065 TC Energy Co. (NYSE:TRP)

Vident Advisory LLC acquired a new stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 158,065 shares of the pipeline company's stock, valued at approximately $7,362,000.

A number of other hedge funds have also recently modified their holdings of TRP. Barclays PLC increased its position in shares of TC Energy by 19.9% in the third quarter. Barclays PLC now owns 528,528 shares of the pipeline company's stock valued at $25,132,000 after acquiring an additional 87,885 shares during the period. Assenagon Asset Management S.A. increased its position in shares of TC Energy by 3.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 33,445 shares of the pipeline company's stock valued at $1,558,000 after acquiring an additional 1,133 shares during the period. Park Avenue Securities LLC boosted its stake in shares of TC Energy by 144.5% during the 4th quarter. Park Avenue Securities LLC now owns 18,275 shares of the pipeline company's stock valued at $851,000 after purchasing an additional 10,802 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of TC Energy by 44.8% during the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company's stock valued at $1,115,000 after purchasing an additional 7,412 shares in the last quarter. Finally, HB Wealth Management LLC bought a new stake in shares of TC Energy during the 4th quarter valued at about $270,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Citigroup assumed coverage on shares of TC Energy in a research note on Friday, April 4th. They set a "neutral" rating on the stock. StockNews.com lowered shares of TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Royal Bank of Canada lifted their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Finally, Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Price Performance

Shares of TRP opened at $49.47 on Tuesday. The stock has a market cap of $51.43 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78. 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 fifty-two week low of $37.07 and a fifty-two week high of $51.34. The firm's 50-day simple moving average is $48.48 and its two-hundred day simple moving average is $47.51.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). The business had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $2.57 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter last year, the company posted $1.02 EPS. Analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.6142 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.46 annualized dividend and a dividend yield of 4.97%. TC Energy's dividend payout ratio is presently 77.89%.

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.

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