Tortoise Capital Advisors L.L.C. Buys 337,647 Shares of TC Energy Co. (NYSE:TRP)

Tortoise Capital Advisors L.L.C. raised its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,279,997 shares of the pipeline company’s stock after acquiring an additional 337,647 shares during the quarter. TC Energy comprises approximately 4.9% of Tortoise Capital Advisors L.L.C.’s investment portfolio, making the stock its 8th biggest holding. Tortoise Capital Advisors L.L.C. owned approximately 0.80% of TC Energy worth $385,268,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in TC Energy in the 4th quarter worth approximately $31,000. Versant Capital Management Inc bought a new position in TC Energy in the fourth quarter valued at about $33,000. Synergy Investment Management LLC bought a new stake in TC Energy during the 4th quarter worth about $36,000. Millstone Evans Group LLC acquired a new position in TC Energy during the 4th quarter valued at about $41,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of TC Energy during the 4th quarter worth approximately $46,000. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Performance

Shares of TRP stock opened at $49.44 on Friday. The company has a 50-day simple moving average of $46.78 and a 200 day simple moving average of $47.01. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The company has a market capitalization of $51.39 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 4.34 and a beta of 0.74. TC Energy Co. has a 52 week low of $35.38 and a 52 week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued 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 during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the previous year, the company earned $1.35 EPS. On average, sell-side analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is 72.84%.

Analyst Ratings Changes

Several brokerages recently weighed in on TRP. Citigroup started coverage on shares of TC Energy in a report on Friday, April 4th. They issued a “neutral” rating on the stock. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. TD Securities initiated coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada boosted their price objective 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, US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Company 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.