TC Energy Co. (NYSE:TRP) Position Increased by Signaturefd LLC

Signaturefd LLC raised its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 7.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,420 shares of the pipeline company’s stock after purchasing an additional 1,491 shares during the period. Signaturefd LLC’s holdings in TC Energy were worth $950,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. increased its stake in TC Energy by 6.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,175,940 shares of the pipeline company’s stock valued at $333,993,000 after purchasing an additional 405,965 shares during the last quarter. CIBC Asset Management Inc increased its stake in TC Energy by 8.4% during the fourth quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company’s stock valued at $331,863,000 after purchasing an additional 551,980 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its stake in TC Energy by 51.4% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company’s stock valued at $225,310,000 after purchasing an additional 1,644,115 shares during the last quarter. Geode Capital Management LLC increased its stake in TC Energy by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock valued at $225,890,000 after purchasing an additional 360,548 shares during the last quarter. Finally, Merewether Investment Management LP increased its stake in TC Energy by 37.9% during the third quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock valued at $194,776,000 after purchasing an additional 1,127,000 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

TRP stock opened at $47.72 on Wednesday. The company has a market capitalization of $49.59 billion, a P/E ratio of 14.73, a PEG ratio of 4.34 and a beta of 0.83. The company has a 50-day simple moving average of $46.26 and a 200 day simple moving average of $46.83. TC Energy Co. has a fifty-two week low of $34.95 and a fifty-two week high of $50.37. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter in the prior year, the company posted $1.35 earnings per share. Sell-side analysts predict that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 7.12%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. TC Energy’s dividend payout ratio is presently 72.53%.

Analysts Set New Price Targets

TRP has been the subject of several recent research reports. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. BMO Capital Markets boosted their price target on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. TD Securities began coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a “buy” rating for the company. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Finally, StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.00.

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.