NewEdge Advisors LLC Boosts Stake in TC Energy Co. (NYSE:TRP)

NewEdge Advisors LLC grew its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 27.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,566 shares of the pipeline company's stock after acquiring an additional 14,034 shares during the period. NewEdge Advisors LLC's holdings in TC Energy were worth $3,051,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in TRP. Addenda Capital Inc. grew its position in TC Energy by 4.4% during the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company's stock worth $48,135,000 after buying an additional 43,639 shares during the period. Ritholtz Wealth Management grew its holdings in shares of TC Energy by 44.8% in the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company's stock worth $1,115,000 after acquiring an additional 7,412 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in shares of TC Energy by 7.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company's stock worth $10,463,000 after acquiring an additional 16,334 shares during the period. Cinctive Capital Management LP increased its stake in TC Energy by 12.3% in the 4th quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company's stock valued at $9,042,000 after purchasing an additional 21,243 shares in the last quarter. Finally, Guardian Partners Inc. acquired a new position in TC Energy during the fourth quarter worth $8,614,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Trading Up 0.2 %

Shares of TRP traded up $0.11 on Friday, hitting $49.61. 7,055,812 shares of the stock traded hands, compared to its average volume of 2,586,089. TC Energy Co. has a 1 year low of $35.38 and a 1 year high of $50.37. The stock's 50 day moving average is $47.03 and its two-hundred day moving average is $47.15. The firm has a market capitalization of $51.58 billion, a P/E ratio of 15.31, a P/E/G ratio of 4.34 and a beta of 0.74. 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 quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.54. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates 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 prior year, the company posted $1.35 EPS. As a group, sell-side analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 6.85%. This is an increase from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy's payout ratio is presently 72.84%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. TD Securities initiated coverage on TC Energy in a research report on Wednesday, January 15th. They issued a "buy" rating for the company. Royal Bank of Canada raised their target price on shares of TC Energy from $71.00 to $74.00 and gave the company 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 report on Monday, February 3rd. Veritas raised shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Finally, StockNews.com downgraded TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.00.

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.