TC Energy Co. (NYSE:TRP) Stock Holdings Lifted by FIL Ltd

FIL Ltd lifted its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 10.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 28,443,403 shares of the pipeline company’s stock after purchasing an additional 2,644,627 shares during the period. TC Energy comprises 1.2% of FIL Ltd’s holdings, making the stock its 9th biggest position. FIL Ltd owned 2.74% of TC Energy worth $1,325,558,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. NTV Asset Management LLC grew its stake in TC Energy by 4.0% during the 4th quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock worth $288,000 after buying an additional 239 shares during the last quarter. Captrust Financial Advisors grew its position in TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after buying an additional 242 shares during the period. Lee Financial Co increased its stake in shares of TC Energy by 3.1% in the 4th quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock valued at $381,000 after purchasing an additional 246 shares in the last quarter. IFP Advisors Inc raised its stake 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 worth $177,000 after buying an additional 249 shares during the period. Finally, Global Retirement Partners LLC raised its position in shares of TC Energy by 7.2% during the 4th quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company’s stock worth $191,000 after purchasing an additional 274 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Trading Down 0.4 %

TC Energy stock opened at $45.75 on Tuesday. The stock has a market cap of $47.54 billion, a PE ratio of 14.12, a P/E/G ratio of 4.34 and a beta of 0.74. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The stock has a 50-day moving average price of $46.57 and a 200 day moving average price of $47.00. TC Energy Co. has a 52 week low of $34.95 and a 52 week high of $50.37.

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, beating analysts’ consensus estimates 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 analyst estimates of $2.42 billion. During the same quarter in the previous year, the business posted $1.35 earnings per share. Equities research 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 paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 7.43%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s dividend payout ratio (DPR) is presently 72.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TRP shares. Royal Bank of Canada increased their target price 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. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Citigroup began coverage on TC Energy in a research note on Friday. They issued a “neutral” rating on the stock. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Finally, TD Securities started coverage on shares of TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, TC Energy currently has an average rating of “Moderate Buy” and an average target price 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.