TC Energy Co. (NYSE:TRP) Stock Position Lifted by IFP Advisors Inc

IFP Advisors Inc boosted its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 7.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,809 shares of the pipeline company’s stock after purchasing an additional 249 shares during the period. IFP Advisors Inc’s holdings in TC Energy were worth $177,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TRP. Versant Capital Management Inc purchased a new position in TC Energy during the fourth quarter valued at approximately $33,000. Point72 DIFC Ltd bought a new stake in TC Energy in the third quarter worth approximately $39,000. UMB Bank n.a. bought a new stake in TC Energy in the fourth quarter worth approximately $47,000. Rogco LP grew its position in TC Energy by 100.0% in the fourth quarter. Rogco LP now owns 1,000 shares of the pipeline company’s stock worth $47,000 after acquiring an additional 500 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in TC Energy by 215.7% in the third quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company’s stock worth $57,000 after acquiring an additional 826 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TRP has been the subject of several recent research reports. Royal Bank of Canada boosted their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. StockNews.com raised shares of TC Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Finally, BMO Capital Markets upped their price objective on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Price Performance

NYSE TRP opened at $44.82 on Tuesday. 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 company has a fifty day simple moving average of $46.33 and a 200 day simple moving average of $46.72. The company has a market cap of $46.57 billion, a P/E ratio of 13.83, a P/E/G ratio of 4.34 and a beta of 0.81. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.51 by $0.54. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period in the prior year, the company earned $1.35 EPS. On average, sell-side analysts predict that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.85 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a yield of 7.59%. The ex-dividend date is Monday, March 31st. TC Energy’s dividend payout ratio is presently 71.91%.

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.