Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in TC Energy Co. (NYSE:TRP)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 8.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 276,295 shares of the pipeline company's stock after purchasing an additional 22,091 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in TC Energy were worth $10,846,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TRP. Bruce G. Allen Investments LLC bought a new stake in shares of TC Energy in the fourth quarter valued at approximately $26,000. Hexagon Capital Partners LLC grew its stake in TC Energy by 158.3% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,085 shares of the pipeline company's stock worth $37,000 after buying an additional 665 shares in the last quarter. Money Concepts Capital Corp grew its stake in TC Energy by 149.1% in the 4th quarter. Money Concepts Capital Corp now owns 949 shares of the pipeline company's stock worth $38,000 after buying an additional 568 shares in the last quarter. Chilton Capital Management LLC purchased a new position in TC Energy in the 1st quarter worth approximately $41,000. Finally, Peoples Bank KS purchased a new stake in shares of TC Energy in the 3rd quarter valued at $45,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Stifel Nicolaus assumed coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a "buy" rating for the company. The Goldman Sachs Group increased their price target on shares of TC Energy from $29.00 to $32.00 and gave the stock a "sell" rating in a research note on Friday, January 26th. Jefferies Financial Group began coverage on shares of TC Energy in a research note on Tuesday, February 27th. They issued a "hold" rating for the company. Barclays increased their price target on shares of TC Energy from $53.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Monday, January 29th. 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 assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $48.83.

TC Energy Stock Performance

NYSE TRP traded up $0.41 on Friday, reaching $35.70. 7,346,237 shares of the stock were exchanged, compared to its average volume of 4,554,556. The firm has a market capitalization of $35.70 billion, a PE ratio of 17.59, a PEG ratio of 2.96 and a beta of 0.75. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. TC Energy Co. has a one year low of $32.51 and a one year high of $42.49. The company's 50-day simple moving average is $39.06 and its two-hundred day simple moving average is $37.99.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.20. The firm had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.93 billion. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. Analysts expect that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.714 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.86 annualized dividend and a dividend yield of 8.00%. This is a boost from TC Energy's previous quarterly dividend of $0.67. TC Energy's dividend payout ratio (DPR) is presently 139.41%.

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.