Quaero Capital S.A. Buys New Stake in TC Energy Co. (NYSE:TRP)

Quaero Capital S.A. purchased a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) in the 4th quarter, Holdings Channel.com reports. The fund purchased 26,260 shares of the pipeline company’s stock, valued at approximately $1,222,000.

Several other institutional investors also recently bought and sold shares of the business. Captrust Financial Advisors boosted its position in TC Energy by 1.3% in the 3rd 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. Prospera Financial Services Inc lifted its position in shares of TC Energy by 4.8% during the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock worth $274,000 after purchasing an additional 262 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of TC Energy by 8.1% during the third quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 264 shares during the last quarter. Blue Trust Inc. lifted its position in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 shares during the last quarter. Finally, Cohen Investment Advisors LLC raised its stake in TC Energy by 2.9% during the fourth quarter. Cohen Investment Advisors LLC now owns 9,831 shares of the pipeline company’s stock worth $457,000 after acquiring an additional 279 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TRP shares. StockNews.com began coverage on shares of TC Energy in a research note on Wednesday, December 4th. They set a “hold” rating on the stock. BMO Capital Markets increased their target price on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. TD Securities started coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, The Goldman Sachs Group boosted their target price 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.00.

TC Energy Stock Down 2.8 %

TC Energy stock opened at $46.05 on Friday. The company has a market cap of $47.85 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 4.45 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. The company has a fifty day simple moving average of $46.65 and a 200 day simple moving average of $46.49. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. During the same period in the previous year, the business posted $1.35 earnings per share. Research analysts anticipate that TC Energy Co. will post 2.92 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 7.38%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is presently 63.43%.

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.