International Assets Investment Management LLC Acquires Shares of 52,453 TC Energy Co. (NYSE:TRP)

International Assets Investment Management LLC bought a new stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 52,453 shares of the pipeline company's stock, valued at approximately $2,050,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TRP. EverSource Wealth Advisors LLC grew its holdings in TC Energy by 14.2% in the third quarter. EverSource Wealth Advisors LLC now owns 2,315 shares of the pipeline company's stock valued at $80,000 after purchasing an additional 288 shares during the period. AdvisorNet Financial Inc raised its position in TC Energy by 25.8% during the fourth quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company's stock worth $58,000 after acquiring an additional 304 shares during the period. Atria Investments Inc lifted its holdings in TC Energy by 0.7% during the third quarter. Atria Investments Inc now owns 46,620 shares of the pipeline company's stock valued at $1,604,000 after purchasing an additional 317 shares in the last quarter. Ingalls & Snyder LLC grew its position in shares of TC Energy by 5.8% in the third quarter. Ingalls & Snyder LLC now owns 9,150 shares of the pipeline company's stock valued at $315,000 after purchasing an additional 500 shares during the period. Finally, Pinnacle Financial Partners Inc increased its stake in shares of TC Energy by 5.0% during the fourth quarter. Pinnacle Financial Partners Inc now owns 10,484 shares of the pipeline company's stock worth $410,000 after purchasing an additional 501 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. TheStreet raised TC Energy from a "c+" rating to a "b-" rating in a report on Wednesday, March 20th. Stifel Nicolaus started coverage on shares of TC Energy in a research report on Thursday, January 18th. They issued a "buy" rating for the company. Barclays boosted 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 report on Monday, January 29th. Jefferies Financial Group started coverage on shares of TC Energy in a research note on Tuesday, February 27th. They issued a "hold" rating on the stock. Finally, The Goldman Sachs Group increased their price target on TC Energy from $29.00 to $32.00 and gave the company 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 assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $48.83.

TC Energy Stock Performance

Shares of TRP remained flat at $38.63 during midday trading on Monday. The stock had a trading volume of 2,078,723 shares, compared to its average volume of 3,067,832. TC Energy Co. has a 1-year low of $32.51 and a 1-year high of $41.85. The stock's 50-day moving average is $38.34 and its two-hundred day moving average is $38.27. The firm has a market cap of $38.63 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 3.25 and a beta of 0.76. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.64.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.79 by $0.20. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. The company had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $2.93 billion. As a group, equities research analysts forecast that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 7.35%. The ex-dividend date of this dividend is Friday, June 28th. TC Energy's dividend payout ratio (DPR) is presently 145.88%.

TC Energy Company 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.