TC Energy Co. (NYSE:TRP) Shares Bought by Lindbrook Capital LLC

Lindbrook Capital LLC lifted its holdings in TC Energy Co. (NYSE:TRPFree Report) (TSE:TRP) by 1,354.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,599 shares of the pipeline company’s stock after purchasing an additional 11,733 shares during the period. Lindbrook Capital LLC’s holdings in TC Energy were worth $492,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of TC Energy by 3.5% in the third quarter. Vanguard Group Inc. now owns 39,625,940 shares of the pipeline company’s stock worth $1,363,529,000 after buying an additional 1,344,000 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of TC Energy by 18.0% in the third quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company’s stock worth $849,037,000 after buying an additional 3,740,495 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of TC Energy by 0.8% in the fourth quarter. Mackenzie Financial Corp now owns 17,122,704 shares of the pipeline company’s stock worth $681,525,000 after buying an additional 128,168 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of TC Energy by 70.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock worth $569,058,000 after buying an additional 6,840,000 shares during the period. Finally, Norges Bank acquired a new position in shares of TC Energy in the fourth quarter worth about $519,894,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of NYSE:TRP opened at $35.70 on Monday. TC Energy Co. has a fifty-two week low of $32.51 and a fifty-two week high of $42.49. The business has a 50-day moving average of $39.06 and a two-hundred day moving average of $38.02. The stock has a market capitalization of $35.70 billion, a P/E ratio of 17.59, a P/E/G ratio of 3.00 and a beta of 0.75. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88.

TC Energy (NYSE:TRPGet Free Report) (TSE:TRP) last posted its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.93 billion. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. On average, equities research analysts predict that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a $0.714 dividend. The ex-dividend date is Wednesday, March 27th. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 dividend on an annualized basis and a dividend yield of 8.00%. TC Energy’s payout ratio is presently 139.41%.

Wall Street Analysts Forecast Growth

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

Read Our Latest Report on TRP

About TC Energy

(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.

See Also

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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