Mesirow Financial Investment Management Inc. Grows Position in TC Energy Co. (NYSE:TRP)

Mesirow Financial Investment Management Inc. raised its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,554 shares of the pipeline company’s stock after acquiring an additional 379 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in TC Energy were worth $445,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. NTV Asset Management LLC raised its holdings in shares of TC Energy by 4.0% in the 4th quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock valued at $288,000 after acquiring an additional 239 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of TC Energy by 1.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after acquiring an additional 242 shares in the last quarter. Lee Financial Co raised its holdings in shares of TC Energy by 3.1% during the 4th quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock valued at $381,000 after buying an additional 246 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of TC Energy by 7.0% during the 4th quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock valued at $177,000 after buying an additional 249 shares in the last quarter. Finally, Prospera Financial Services Inc raised its holdings in shares of TC Energy by 4.8% during the 3rd quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock valued at $274,000 after buying an additional 262 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TRP. TD Securities began coverage on TC Energy in a report on Wednesday, January 15th. They set a “buy” rating on the stock. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Royal Bank of Canada raised their price objective on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, BMO Capital Markets raised their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, TC Energy has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Price Performance

TRP opened at $45.86 on Friday. The stock’s 50 day simple moving average is $46.28 and its 200 day simple moving average is $46.74. 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 Co. has a 1 year low of $31.83 and a 1 year high of $50.37. The firm has a market cap of $47.66 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.54. The business 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 period last year, the company earned $1.35 EPS. As a group, 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. Stockholders of record on Monday, March 31st will be given a $0.85 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.41%. The ex-dividend date is Monday, March 31st. TC Energy’s dividend payout ratio (DPR) is currently 72.53%.

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.