Mufg Securities Canada LTD. Purchases 5,264,079 Shares of TC Energy Co. (NYSE:TRP)

Mufg Securities Canada LTD. raised its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 571.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,184,832 shares of the pipeline company’s stock after acquiring an additional 5,264,079 shares during the period. TC Energy comprises about 10.4% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its largest holding. Mufg Securities Canada LTD.’s holdings in TC Energy were worth $288,043,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Zions Bancorporation N.A. increased its stake in shares of TC Energy by 13.0% in the fourth quarter. Zions Bancorporation N.A. now owns 167,150 shares of the pipeline company’s stock valued at $7,777,000 after buying an additional 19,223 shares in the last quarter. TD Asset Management Inc. increased its position in TC Energy by 2.1% in the 4th quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company’s stock valued at $765,627,000 after acquiring an additional 344,485 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of TC Energy by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company’s stock worth $2,035,952,000 after acquiring an additional 734,678 shares during the last quarter. LPL Financial LLC raised its stake in shares of TC Energy by 8.9% in the fourth quarter. LPL Financial LLC now owns 911,009 shares of the pipeline company’s stock worth $42,389,000 after acquiring an additional 74,391 shares during the last quarter. Finally, Guardian Partners Inc. acquired a new position in shares of TC Energy during the fourth quarter worth approximately $8,614,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of TRP opened at $48.89 on Wednesday. The stock has a market cap of $50.80 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. TC Energy Co. has a 1 year low of $34.95 and a 1 year high of $50.37. The stock’s 50-day moving average price is $46.45 and its two-hundred day moving average price is $46.91. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last released 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. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the firm earned $1.35 EPS. On average, equities analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm 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. This represents a $3.40 annualized dividend and a yield of 6.95%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is presently 72.53%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. StockNews.com downgraded TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Royal Bank of Canada upped their price target on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. TD Securities started coverage on TC Energy in a report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus 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.