TC Energy Co. (NYSE:TRP) Shares Bought by Addenda Capital Inc.

Addenda Capital Inc. raised its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,089,146 shares of the pipeline company's stock after acquiring an additional 26,711 shares during the quarter. TC Energy makes up approximately 2.0% of Addenda Capital Inc.'s investment portfolio, making the stock its 13th largest position. Addenda Capital Inc. owned 0.10% of TC Energy worth $42,575,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ausbil Investment Management Ltd bought a new position in shares of TC Energy in the third quarter worth about $5,419,000. National Bank of Canada FI lifted its holdings in shares of TC Energy by 68.2% in the third quarter. National Bank of Canada FI now owns 19,993,928 shares of the pipeline company's stock worth $668,801,000 after acquiring an additional 8,103,785 shares during the last quarter. Morgan Stanley lifted its holdings in shares of TC Energy by 42.5% in the third quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company's stock worth $234,719,000 after acquiring an additional 2,034,846 shares during the last quarter. Mondrian Investment Partners LTD raised its holdings in TC Energy by 9.3% in the 3rd quarter. Mondrian Investment Partners LTD now owns 7,231,694 shares of the pipeline company's stock valued at $248,843,000 after buying an additional 618,040 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in TC Energy by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 39,625,940 shares of the pipeline company's stock valued at $1,363,529,000 after buying an additional 1,344,000 shares during the last quarter. Institutional investors own 83.13% of the company's stock.

Analysts Set New Price Targets

TRP has been the subject of a number of research reports. Barclays raised their price objective on shares of TC Energy from $53.00 to $55.00 and gave the company an "equal weight" rating in a report on Monday, January 29th. Stifel Nicolaus initiated coverage on shares of TC Energy in a report on Thursday, January 18th. They issued a "buy" rating for the company. Jefferies Financial Group initiated coverage on shares of TC Energy in a report on Tuesday, February 27th. They issued a "hold" rating for the company. TheStreet upgraded shares of TC Energy from a "c+" rating to a "b-" rating in a report on Wednesday, March 20th. Finally, The Goldman Sachs Group raised their price target on shares of TC Energy from $29.00 to $32.00 and gave the stock a "sell" rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $48.83.

TC Energy Stock Down 1.2 %

TRP traded down $0.49 during mid-day trading on Thursday, reaching $38.75. 2,104,617 shares of the stock were exchanged, compared to its average volume of 2,727,363. The stock has a market capitalization of $38.75 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 3.35 and a beta of 0.75. TC Energy Co. has a 1 year low of $32.51 and a 1 year high of $42.76. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96. The company has a 50 day moving average price of $39.54 and a two-hundred day moving average price of $37.90.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The company had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.93 billion. As a group, research analysts anticipate that TC Energy Co. will post 2.99 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.714 dividend. This is a boost from TC Energy's previous quarterly dividend of $0.67. This represents a $2.86 dividend on an annualized basis and a yield of 7.37%. The ex-dividend date of this dividend is Wednesday, March 27th. TC Energy's payout ratio is currently 139.41%.

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.