Foundations Investment Advisors LLC Has $411,000 Position in TC Energy Co. (NYSE:TRP)

Foundations Investment Advisors LLC grew its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 11.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,844 shares of the pipeline company’s stock after acquiring an additional 916 shares during the period. Foundations Investment Advisors LLC’s holdings in TC Energy were worth $411,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Addenda Capital Inc. grew its holdings in TC Energy by 4.4% during the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock worth $48,135,000 after purchasing an additional 43,639 shares during the period. Captrust Financial Advisors lifted its position in shares of TC Energy by 1.3% in the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after buying an additional 242 shares during the last quarter. Ritholtz Wealth Management boosted its stake in shares of TC Energy by 44.8% during the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock worth $1,115,000 after acquiring an additional 7,412 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of TC Energy during the 3rd quarter worth approximately $3,771,000. Finally, Harvest Portfolios Group Inc. raised its stake in TC Energy by 107.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after acquiring an additional 117,176 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Performance

Shares of NYSE:TRP opened at $45.27 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37. The company’s 50 day moving average price is $47.19 and its two-hundred day moving average price is $46.09. The firm has a market cap of $47.04 billion, a PE ratio of 12.54, a PEG ratio of 4.45 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) 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 the consensus estimate of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. Equities research analysts predict that TC Energy Co. will post 2.95 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is 63.16%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. StockNews.com began coverage on shares of TC Energy in a research report on Wednesday, December 4th. They set a “hold” rating for the company. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Finally, TD Securities began coverage on TC Energy in a report on Wednesday, January 15th. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, TC Energy currently has an average rating of “Hold” and a consensus price target of $56.00.

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.