Park Avenue Securities LLC Boosts Holdings in TC Energy Co. (NYSE:TRP)

Park Avenue Securities LLC grew its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 144.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 18,275 shares of the pipeline company’s stock after purchasing an additional 10,802 shares during the period. Park Avenue Securities LLC’s holdings in TC Energy were worth $851,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in TC Energy by 156.1% during 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 buying an additional 4,126,801 shares during the last quarter. Merewether Investment Management LP purchased a new stake in shares of TC Energy during the second quarter worth about $112,618,000. Marshall Wace LLP grew its stake in shares of TC Energy by 841.1% during the second quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company’s stock worth $77,349,000 after acquiring an additional 1,824,008 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of TC Energy during the third quarter valued at about $73,162,000. Finally, Point72 Asset Management L.P. purchased a new stake in TC Energy during the 2nd quarter worth approximately $50,257,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. TD Securities initiated coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. StockNews.com began coverage on shares of TC Energy in a report on Wednesday, December 4th. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group lifted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. Two 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $55.67.

TC Energy Trading Up 0.3 %

TC Energy stock opened at $47.52 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The firm has a market cap of $49.38 billion, a PE ratio of 13.16, a P/E/G ratio of 4.47 and a beta of 0.82. The stock’s 50 day simple moving average is $47.54 and its two-hundred day simple moving average is $45.74. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. Analysts anticipate that TC Energy Co. will post 2.95 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.92%. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio is currently 63.43%.

TC Energy Company 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.