Benjamin F. Edwards & Company Inc. Buys New Holdings in TC Energy Co. (NYSE:TRP)

Benjamin F. Edwards & Company Inc. purchased a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,673 shares of the pipeline company’s stock, valued at approximately $576,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TRP. Natixis Advisors L.P. raised its holdings in TC Energy by 49.8% in the fourth quarter. Natixis Advisors L.P. now owns 32,890 shares of the pipeline company’s stock valued at $1,285,000 after buying an additional 10,929 shares during the period. First Horizon Advisors Inc. raised its stake in shares of TC Energy by 55.6% in the 4th quarter. First Horizon Advisors Inc. now owns 3,616 shares of the pipeline company’s stock valued at $141,000 after acquiring an additional 1,292 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in shares of TC Energy by 24.4% during the 4th quarter. First Trust Direct Indexing L.P. now owns 7,521 shares of the pipeline company’s stock valued at $294,000 after acquiring an additional 1,473 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its position in TC Energy by 0.3% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 886,000 shares of the pipeline company’s stock worth $34,634,000 after purchasing an additional 2,500 shares during the period. Finally, Intrust Bank NA increased its holdings in TC Energy by 42.6% in the 4th quarter. Intrust Bank NA now owns 10,097 shares of the pipeline company’s stock valued at $395,000 after purchasing an additional 3,014 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TRP shares. The Goldman Sachs Group upped their target price on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Jefferies Financial Group initiated coverage on TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating for the company. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Stifel Nicolaus started coverage on shares of TC Energy in a research note on Thursday, January 18th. They issued a “buy” rating for the company. Finally, Barclays lifted their price target on shares of TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $48.83.

TC Energy Stock Performance

Shares of TC Energy stock opened at $37.87 on Thursday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96. TC Energy Co. has a 1 year low of $32.51 and a 1 year high of $42.42. The firm’s 50-day simple moving average is $38.42 and its 200-day simple moving average is $38.18. The firm has a market cap of $37.87 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 3.24 and a beta of 0.76.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.20. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.93 billion. TC Energy had a return on equity of 20.63% and a net margin of 17.23%. Equities analysts forecast that TC Energy Co. will post 2.9 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 7.50%. The ex-dividend date of this dividend is Friday, June 28th. TC Energy’s dividend payout ratio (DPR) is presently 145.88%.

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.