Intrust Bank NA Acquires 3,014 Shares of TC Energy Co. (NYSE:TRP)

Intrust Bank NA grew its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 42.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,097 shares of the pipeline company’s stock after buying an additional 3,014 shares during the period. Intrust Bank NA’s holdings in TC Energy were worth $395,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of TC Energy by 29,994.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 309,376 shares of the pipeline company’s stock worth $12,094,000 after buying an additional 308,348 shares in the last quarter. Addenda Capital Inc. lifted its holdings in shares of TC Energy by 2.5% in the 4th quarter. Addenda Capital Inc. now owns 1,089,146 shares of the pipeline company’s stock worth $42,575,000 after purchasing an additional 26,711 shares in the last quarter. Morgan Stanley lifted its holdings in shares of TC Energy by 42.5% in the 3rd quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock worth $234,719,000 after purchasing an additional 2,034,846 shares in the last quarter. Mondrian Investment Partners LTD lifted its holdings in shares of TC Energy by 9.3% in the 3rd quarter. Mondrian Investment Partners LTD now owns 7,231,694 shares of the pipeline company’s stock worth $248,843,000 after purchasing an additional 618,040 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of TC Energy by 6.5% in the 3rd quarter. Van ECK Associates Corp now owns 296,979 shares of the pipeline company’s stock worth $10,218,000 after purchasing an additional 18,213 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Trading Down 0.3 %

Shares of TC Energy stock opened at $35.73 on Thursday. TC Energy Co. has a 1 year low of $32.51 and a 1 year high of $42.49. The firm has a market cap of $35.73 billion, a PE ratio of 17.60, a P/E/G ratio of 3.09 and a beta of 0.76. The stock has a fifty day moving average price of $38.60 and a 200-day moving average price of $38.09. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. Equities research analysts anticipate that TC Energy Co. will post 2.9 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were paid a $0.714 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $2.86 annualized dividend and a yield of 7.99%. This is an increase from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s dividend payout ratio (DPR) is currently 139.41%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TRP shares. Barclays increased their target price on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. The Goldman Sachs Group increased their price target on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, January 26th. Stifel Nicolaus assumed coverage on TC Energy in a research report on Thursday, January 18th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group assumed coverage on TC Energy in a research report on Tuesday, February 27th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, TC Energy has an average rating of “Hold” and an average price target of $48.83.

About TC Energy

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.