Sequoia Financial Advisors LLC Buys 526 Shares of TC Energy Co. (NYSE:TRP)

Sequoia Financial Advisors LLC lifted its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,177 shares of the pipeline company’s stock after buying an additional 526 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in TC Energy were worth $474,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. CIBC Asset Management Inc lifted its stake in TC Energy by 8.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company’s stock worth $331,863,000 after acquiring an additional 551,980 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of TC Energy by 156.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after purchasing an additional 4,126,801 shares during the period. Geode Capital Management LLC increased its holdings in TC Energy by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock valued at $225,890,000 after buying an additional 360,548 shares during the period. Merewether Investment Management LP raised its stake in TC Energy by 37.9% in the third quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock worth $194,776,000 after buying an additional 1,127,000 shares in the last quarter. Finally, Amundi lifted its holdings in TC Energy by 2.1% during the fourth quarter. Amundi now owns 3,937,675 shares of the pipeline company’s stock worth $188,181,000 after buying an additional 81,413 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Down 0.1 %

Shares of TC Energy stock opened at $47.72 on Wednesday. TC Energy Co. has a 12-month low of $34.95 and a 12-month high of $50.37. The firm’s 50 day simple moving average is $46.26 and its two-hundred day simple moving average is $46.83. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $49.59 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter last year, the business posted $1.35 EPS. Analysts predict that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.85 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a yield of 7.12%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is currently 72.53%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TRP. TD Securities started coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. BMO Capital Markets boosted their price objective on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada raised their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $62.00.

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.