First Horizon Advisors Inc. Increases Stake in TC Energy Co. (NYSE:TRP)

First Horizon Advisors Inc. lifted its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 8.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,505 shares of the pipeline company’s stock after buying an additional 264 shares during the quarter. First Horizon Advisors Inc.’s holdings in TC Energy were worth $167,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new stake in TC Energy in the 3rd quarter worth $28,000. Blue Trust Inc. lifted its position in shares of TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after buying an additional 267 shares in the last quarter. EdgeRock Capital LLC bought a new position in TC Energy during the second quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. grew its holdings in TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after buying an additional 429 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in TC Energy in the 2nd quarter worth approximately $33,000. Institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Veritas raised shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. StockNews.com assumed coverage on TC Energy in a research note on Monday, November 18th. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $55.67.

TC Energy Stock Down 0.8 %

Shares of NYSE TRP opened at $49.85 on Friday. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37. The firm has a 50-day simple moving average of $47.22 and a two-hundred day simple moving average of $43.22. The company has a market cap of $51.74 billion, a P/E ratio of 13.81, a PEG ratio of 4.22 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23.

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 firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. Research analysts anticipate that TC Energy Co. will post 2.98 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. Stockholders of record on Tuesday, December 31st will be issued a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.60%. TC Energy’s dividend payout ratio is presently 67.31%.

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.