TC Energy Co. (NYSE:TRP) is Mufg Securities Canada LTD.’s Largest Position

Mufg Securities Canada LTD. grew its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 571.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,184,832 shares of the pipeline company’s stock after acquiring an additional 5,264,079 shares during the period. TC Energy accounts for 10.4% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its biggest holding. Mufg Securities Canada LTD. owned 0.60% of TC Energy worth $288,043,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of TC Energy during the 4th quarter worth $31,000. Versant Capital Management Inc acquired a new position in TC Energy during the fourth quarter worth $33,000. Synergy Investment Management LLC acquired a new stake in shares of TC Energy in the fourth quarter worth about $36,000. Point72 DIFC Ltd bought a new stake in shares of TC Energy during the 3rd quarter worth about $39,000. Finally, Millstone Evans Group LLC acquired a new position in shares of TC Energy during the 4th quarter valued at about $41,000. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Down 0.8 %

Shares of TRP opened at $48.89 on Wednesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The company has a 50-day simple moving average of $46.45 and a 200-day simple moving average of $46.91. TC Energy Co. has a 52 week low of $34.95 and a 52 week high of $50.37. The firm has a market capitalization of $50.80 billion, a P/E ratio of 15.09, a P/E/G ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the prior year, the firm posted $1.35 EPS. On average, equities research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.85 per share. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a yield of 6.95%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is currently 72.53%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Royal Bank of Canada boosted their target price on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, TD Securities began coverage on TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.