First Trust Advisors LP Boosts Stock Position in TC Energy Co. (NYSE:TRP)

First Trust Advisors LP boosted its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 685.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,061,697 shares of the pipeline company's stock after acquiring an additional 926,497 shares during the period. First Trust Advisors LP owned 0.10% of TC Energy worth $49,411,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new stake in shares of TC Energy in the 4th quarter valued at about $31,000. Versant Capital Management Inc bought a new position in TC Energy in the fourth quarter valued at $33,000. Synergy Investment Management LLC purchased a new stake in TC Energy during the fourth quarter valued at about $36,000. Millstone Evans Group LLC purchased a new position in shares of TC Energy in the 4th quarter worth about $41,000. Finally, First Command Advisory Services Inc. bought a new position in TC Energy during the fourth quarter valued at approximately $46,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TRP has been the subject of a number of research reports. Veritas raised shares of 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. Royal Bank of Canada raised their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. Finally, Citigroup began coverage on shares of TC Energy in a research note on Friday, April 4th. They set a "neutral" rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Down 0.0 %

Shares of NYSE TRP traded down $0.02 during midday trading on Tuesday, hitting $50.23. The stock had a trading volume of 233,998 shares, compared to its average volume of 2,571,019. TC Energy Co. has a 52 week low of $35.38 and a 52 week high of $50.45. The company has a market cap of $52.22 billion, a P/E ratio of 15.55, a PEG ratio of 4.34 and a beta of 0.74. The business's 50 day moving average is $47.12 and its 200-day moving average is $47.21. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter in the prior year, the firm posted $1.35 EPS. As a group, analysts predict that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced 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 represents a $3.40 annualized dividend and a dividend yield of 6.77%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from TC Energy's previous quarterly dividend of $0.82. TC Energy's payout ratio is 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.