Signaturefd LLC Purchases 3,317 Shares of TC Energy Co. (NYSE:TRP)

Signaturefd LLC increased its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 29.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,765 shares of the pipeline company’s stock after purchasing an additional 3,317 shares during the quarter. Signaturefd LLC’s holdings in TC Energy were worth $577,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in TC Energy by 70.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock valued at $569,058,000 after acquiring an additional 6,840,000 shares during the period. Canada Pension Plan Investment Board raised its holdings in TC Energy by 18.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company’s stock valued at $849,037,000 after acquiring an additional 3,740,495 shares during the period. Blackstone Inc. raised its holdings in TC Energy by 540.4% in the 3rd quarter. Blackstone Inc. now owns 3,117,031 shares of the pipeline company’s stock valued at $107,257,000 after acquiring an additional 2,630,324 shares during the period. Morgan Stanley raised its holdings in TC Energy by 42.5% in the 3rd quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock valued at $234,719,000 after acquiring an additional 2,034,846 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in TC Energy by 24.8% in the 3rd quarter. CIBC Asset Management Inc now owns 9,567,604 shares of the pipeline company’s stock valued at $330,044,000 after acquiring an additional 1,901,838 shares during the period. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Performance

NYSE TRP opened at $35.91 on Thursday. 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 $35.91 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 3.03 and a beta of 0.75. The firm’s 50 day simple moving average is $38.95 and its 200 day simple moving average is $38.04. TC Energy Co. has a 1 year low of $32.51 and a 1 year high of $42.49.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.93 billion. As a group, research analysts expect that TC Energy Co. will post 2.98 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a $0.714 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $2.86 dividend on an annualized basis and a yield of 7.95%. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s dividend payout ratio (DPR) is currently 139.41%.

Analyst Upgrades and Downgrades

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

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.