TC Energy Co. (NYSE:TRP) Shares Purchased by Meixler Investment Management Ltd.

Meixler Investment Management Ltd. grew its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 6.9% in the 3rd quarter, Holdings Channel reports. The fund owned 9,650 shares of the pipeline company’s stock after acquiring an additional 625 shares during the period. Meixler Investment Management Ltd.’s holdings in TC Energy were worth $459,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TRP. EdgeRock Capital LLC purchased a new position in TC Energy in the second quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after buying an additional 429 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in shares of TC Energy during the third quarter worth approximately $28,000. Blue Trust Inc. increased its stake in shares of TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after buying an additional 267 shares during the last quarter. Finally, Mather Group LLC. bought a new position in TC Energy during the 2nd quarter valued at $33,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

Shares of NYSE TRP opened at $48.76 on Monday. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.22. The firm has a market capitalization of $50.61 billion, a PE ratio of 13.51, a P/E/G ratio of 4.04 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The business’s fifty day moving average price is $46.64 and its two-hundred day moving average price is $42.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.96%. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. On average, research analysts expect that TC Energy Co. will post 2.99 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.822 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a yield of 6.74%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is currently 91.14%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TRP shares. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. StockNews.com assumed coverage on TC Energy in a research report on Saturday, October 5th. They issued a “hold” rating for the company. Veritas raised TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, TC Energy has an average rating of “Hold” and an average price target of $48.50.

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.