First Heartland Consultants Inc. Has $3 Million Position in TC Energy Co. (NYSE:TRP)

First Heartland Consultants Inc. raised its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 101.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,493 shares of the pipeline company's stock after buying an additional 38,480 shares during the period. First Heartland Consultants Inc.'s holdings in TC Energy were worth $3,003,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. EdgeRock Capital LLC purchased a new position in TC Energy in the 4th quarter worth approximately $25,000. Bruce G. Allen Investments LLC acquired a new stake in TC Energy during the 4th quarter valued at $26,000. AdvisorNet Financial Inc increased its stake in TC Energy by 25.8% during the 4th quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company's stock worth $58,000 after buying an additional 304 shares during the period. Whittier Trust Co. lifted its holdings in TC Energy by 1,500.0% in the 4th quarter. Whittier Trust Co. now owns 1,840 shares of the pipeline company's stock worth $72,000 after buying an additional 1,725 shares in the last quarter. Finally, Parkside Financial Bank & Trust purchased a new position in TC Energy in the 4th quarter valued at about $74,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on TRP shares. TheStreet upgraded TC Energy from a "c+" rating to a "b-" rating in a research note on Wednesday, March 20th. The Goldman Sachs Group increased their target price on TC Energy from $29.00 to $32.00 and gave the company a "sell" rating in a research note on Friday, January 26th. Jefferies Financial Group initiated coverage on shares of TC Energy in a research note on Tuesday, February 27th. They issued a "hold" rating for the company. Finally, Barclays increased 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $48.83.

TC Energy Stock Performance

NYSE TRP traded down $0.21 during trading hours on Friday, reaching $38.91. The company's stock had a trading volume of 1,791,485 shares, compared to its average volume of 3,266,410. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.64. The business has a 50-day simple moving average of $38.22 and a 200 day simple moving average of $38.40. TC Energy Co. has a 52 week low of $32.51 and a 52 week high of $41.85. The stock has a market cap of $38.91 billion, a PE ratio of 20.06, a PEG ratio of 3.28 and a beta of 0.75.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results 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 company had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.93 billion. TC Energy had a return on equity of 17.94% and a net margin of 17.23%. Equities research analysts predict that TC Energy Co. will post 2.98 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 7.30%. The ex-dividend date is Friday, June 28th. TC Energy's payout ratio is 145.88%.

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.