Allspring Global Investments Holdings LLC raised its position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 29,994.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 309,376 shares of the pipeline company's stock after buying an additional 308,348 shares during the period. Allspring Global Investments Holdings LLC's holdings in TC Energy were worth $12,094,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new stake in shares of TC Energy during the fourth quarter valued at approximately $26,000. Hexagon Capital Partners LLC boosted its stake in TC Energy by 158.3% in the third quarter. Hexagon Capital Partners LLC now owns 1,085 shares of the pipeline company's stock valued at $37,000 after acquiring an additional 665 shares during the last quarter. Money Concepts Capital Corp boosted its stake in TC Energy by 149.1% in the fourth quarter. Money Concepts Capital Corp now owns 949 shares of the pipeline company's stock valued at $38,000 after acquiring an additional 568 shares during the last quarter. Chilton Capital Management LLC bought a new position in TC Energy in the first quarter valued at approximately $41,000. Finally, Peoples Bank KS bought a new position in TC Energy in the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 83.13% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have issued reports on TRP. 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 research note on Monday, January 29th. Jefferies Financial Group started coverage on shares of TC Energy in a research report on Tuesday, February 27th. They set a "hold" rating on the stock. Stifel Nicolaus started coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a "buy" rating on the stock. The Goldman Sachs Group lifted their price target on shares of TC Energy from $29.00 to $32.00 and gave the stock a "sell" rating in a research report on Friday, January 26th. Finally, TheStreet raised shares of TC Energy from a "c+" rating to a "b-" rating in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $48.83.
Read Our Latest Stock Report on TC Energy
TC Energy Stock Performance
NYSE TRP traded down $0.82 during trading on Tuesday, reaching $35.18. The company's stock had a trading volume of 5,704,327 shares, compared to its average volume of 2,931,164. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $35.18 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 3.02 and a beta of 0.75. TC Energy Co. has a 12 month low of $32.51 and a 12 month high of $42.49. The firm has a 50 day moving average price of $39.25 and a 200 day moving average price of $37.97.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.20. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. As a group, equities analysts anticipate that TC Energy Co. will post 2.99 EPS for the current fiscal year.
TC Energy Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a $0.714 dividend. The ex-dividend date is Wednesday, March 27th. This is a boost from TC Energy's previous quarterly dividend of $0.67. This represents a $2.86 annualized dividend and a dividend yield of 8.12%. TC Energy's payout ratio is presently 139.41%.
TC Energy Company Profile
(
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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