Vident Advisory LLC acquired 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 & Exchange Commission. The institutional investor acquired 158,065 shares of the pipeline company's stock, valued at approximately $7,362,000.
Other large investors have also modified their holdings of the company. NTV Asset Management LLC grew its stake in shares of TC Energy by 4.0% during the fourth quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company's stock worth $288,000 after purchasing an additional 239 shares in the last quarter. Lee Financial Co grew its stake in shares of TC Energy by 3.1% during the fourth quarter. Lee Financial Co now owns 8,185 shares of the pipeline company's stock worth $381,000 after purchasing an additional 246 shares in the last quarter. IFP Advisors Inc grew its stake in shares of TC Energy by 7.0% during the fourth quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company's stock worth $177,000 after purchasing an additional 249 shares in the last quarter. Benjamin Edwards Inc. grew its stake in shares of TC Energy by 1.7% during the fourth quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company's stock worth $745,000 after purchasing an additional 273 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of TC Energy by 7.2% during the fourth quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company's stock worth $191,000 after purchasing an additional 274 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.
Wall Street Analyst Weigh In
TRP has been the subject of a number of analyst reports. Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. Citigroup assumed coverage on shares of TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating for the company. Finally, Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $62.00.
View Our Latest Stock Analysis on TRP
TC Energy Stock Performance
Shares of TRP traded up $0.95 during mid-day trading on Friday, hitting $50.46. 1,290,935 shares of the company's stock were exchanged, compared to its average volume of 2,510,216. TC Energy Co. has a fifty-two week low of $37.07 and a fifty-two week high of $51.34. The firm has a market capitalization of $52.46 billion, a P/E ratio of 15.57, a P/E/G ratio of 4.34 and a beta of 0.78. The business's 50 day moving average is $48.70 and its two-hundred day moving average is $47.57. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the company posted $1.02 EPS. On average, equities analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.
TC Energy Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.6142 per share. The ex-dividend date is Monday, June 30th. This represents a $2.46 annualized dividend and a yield of 4.87%. TC Energy's dividend payout ratio is currently 77.89%.
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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