4,690 Shares in TC Energy Co. (NYSE:TRP) Purchased by Essex Financial Services Inc.

Essex Financial Services Inc. bought a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,690 shares of the pipeline company’s stock, valued at approximately $215,000.

A number of other institutional investors have also bought and sold shares of TRP. Comerica Bank grew its position in TC Energy by 4.8% during the fourth quarter. Comerica Bank now owns 72,588 shares of the pipeline company’s stock worth $3,219,000 after buying an additional 3,341 shares in the last quarter. Intact Investment Management Inc. grew its position in TC Energy by 1.8% during the fourth quarter. Intact Investment Management Inc. now owns 1,032,980 shares of the pipeline company’s stock worth $53,415,000 after buying an additional 18,600 shares in the last quarter. Heathbridge Capital Management Ltd. grew its position in TC Energy by 33.0% during the fourth quarter. Heathbridge Capital Management Ltd. now owns 651,425 shares of the pipeline company’s stock worth $26,478,000 after buying an additional 161,530 shares in the last quarter. Letko Brosseau & Associates Inc. grew its position in TC Energy by 50.3% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 294,450 shares of the pipeline company’s stock worth $11,961,000 after buying an additional 98,575 shares in the last quarter. Finally, EFG Asset Management Americas Corp. grew its position in TC Energy by 3.3% during the fourth quarter. EFG Asset Management Americas Corp. now owns 89,868 shares of the pipeline company’s stock worth $3,660,000 after buying an additional 2,844 shares in the last quarter. Institutional investors and hedge funds own 71.03% of the company’s stock.

Several brokerages have issued reports on TRP. CIBC lifted their price target on TC Energy from $69.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, February 19th. Wells Fargo & Company lifted their price target on TC Energy from $66.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 13th. TD Securities dropped their price target on TC Energy from $75.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, February 19th. Finally, Evercore ISI began coverage on TC Energy in a research note on Friday, March 19th. They set a $70.00 price target for the company. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $66.14.

NYSE TRP opened at $53.07 on Friday. TC Energy Co. has a 1-year low of $38.80 and a 1-year high of $53.60. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.73 and a current ratio of 0.81. The firm has a 50-day moving average of $49.61. The company has a market cap of $51.94 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 2.44 and a beta of 0.78.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 30th. Shareholders of record on Wednesday, June 30th will be given a dividend of $0.7137 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Tuesday, June 29th. This represents a $2.85 dividend on an annualized basis and a yield of 5.38%. TC Energy’s dividend payout ratio is presently 57.96%.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Storage segments. The company builds and operates 93,400 km network 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.

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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