Jones Financial Companies Lllp Boosts Holdings in TC Energy Co. (NYSE:TRP)

Jones Financial Companies Lllp grew its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 59.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 175,162 shares of the pipeline company’s stock after buying an additional 65,126 shares during the period. Jones Financial Companies Lllp’s holdings in TC Energy were worth $8,150,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in TRP. Wealth Enhancement Advisory Services LLC raised its holdings in TC Energy by 3.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,033 shares of the pipeline company’s stock worth $810,000 after purchasing an additional 631 shares in the last quarter. Financial Advocates Investment Management lifted its holdings in shares of TC Energy by 7.8% in the 3rd quarter. Financial Advocates Investment Management now owns 6,950 shares of the pipeline company’s stock valued at $331,000 after buying an additional 501 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of TC Energy by 215.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company’s stock valued at $57,000 after buying an additional 826 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of TC Energy by 1.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 77,906 shares of the pipeline company’s stock valued at $3,704,000 after buying an additional 840 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of TC Energy by 12.9% in the third quarter. Van ECK Associates Corp now owns 338,248 shares of the pipeline company’s stock valued at $15,880,000 after buying an additional 38,729 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on TRP shares. StockNews.com raised TC Energy from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. TD Securities assumed coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada lifted their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, BMO Capital Markets upped their price target on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Stock Up 0.2 %

Shares of NYSE TRP opened at $44.82 on Tuesday. The firm’s 50-day moving average is $46.33 and its two-hundred day moving average is $46.72. The company has a market capitalization of $46.57 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 4.34 and a beta of 0.81. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter in the prior year, the company earned $1.35 EPS. Equities analysts anticipate that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.59%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is presently 71.91%.

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.