Atomi Financial Group Inc. Has $629,000 Stake in TC Energy Co. (NYSE:TRP)

Atomi Financial Group Inc. lifted its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 15.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,518 shares of the pipeline company’s stock after purchasing an additional 1,802 shares during the period. Atomi Financial Group Inc.’s holdings in TC Energy were worth $629,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Captrust Financial Advisors raised its stake in TC Energy by 1.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after purchasing an additional 242 shares in the last quarter. Prospera Financial Services Inc raised its position in shares of TC Energy by 4.8% in the third 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. First Horizon Advisors Inc. boosted its stake in shares of TC Energy by 8.1% in the third quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock valued at $167,000 after buying an additional 264 shares during the period. Blue Trust Inc. grew its position in TC Energy by 72.0% during 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 in the last quarter. Finally, Cohen Investment Advisors LLC grew its position in TC Energy by 2.9% during the fourth quarter. Cohen Investment Advisors LLC now owns 9,831 shares of the pipeline company’s stock worth $457,000 after buying an additional 279 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Performance

Shares of TC Energy stock opened at $47.13 on Friday. The company’s 50 day moving average price is $47.50 and its two-hundred day moving average price is $45.81. The firm has a market capitalization of $48.97 billion, a P/E ratio of 13.06, a P/E/G ratio of 4.48 and a beta of 0.82. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. On average, equities analysts forecast that TC Energy Co. will post 2.95 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a yield of 6.98%. The ex-dividend date is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is 63.43%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TRP shares. BMO Capital Markets upped their target price on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, TD Securities initiated coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $55.67.

TC Energy 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.