Sei Investments Co. Increases Stock Holdings in TC Energy Co. (NYSE:TRP)

Sei Investments Co. increased its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 8.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 45,239 shares of the pipeline company’s stock after acquiring an additional 3,636 shares during the period. Sei Investments Co.’s holdings in TC Energy were worth $2,105,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of TC Energy by 6.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,175,940 shares of the pipeline company’s stock valued at $333,993,000 after purchasing an additional 405,965 shares in the last quarter. CIBC Asset Management Inc grew its position in TC Energy by 8.4% during the fourth quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company’s stock worth $331,863,000 after buying an additional 551,980 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its stake in TC Energy by 51.4% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company’s stock worth $225,310,000 after acquiring an additional 1,644,115 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of TC Energy by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock valued at $225,890,000 after acquiring an additional 360,548 shares in the last quarter. Finally, Amundi boosted its position in shares of TC Energy by 2.1% during the 4th quarter. Amundi now owns 3,937,675 shares of the pipeline company’s stock valued at $188,181,000 after acquiring an additional 81,413 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Royal Bank of Canada raised their price objective 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. StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Citigroup started coverage on TC Energy in a research report on Friday. They set a “neutral” rating on the stock. Finally, TD Securities assumed coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Stock Performance

Shares of TC Energy stock opened at $46.07 on Friday. The business has a fifty day simple moving average of $46.57 and a two-hundred day simple moving average of $46.99. The firm has a market capitalization of $47.88 billion, a P/E ratio of 14.22, 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. TC Energy Co. has a 12 month low of $34.95 and a 12 month 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 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the firm posted $1.35 earnings per share. On average, equities analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.85 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 7.38%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is presently 72.53%.

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.