5,800 Shares in TC Energy Co. (NYSE:TRP) Bought by HB Wealth Management LLC

HB Wealth Management LLC purchased a new position in TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 5,800 shares of the pipeline company’s stock, valued at approximately $270,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hennessy Advisors Inc. raised its holdings in TC Energy by 3.5% in the 4th quarter. Hennessy Advisors Inc. now owns 576,700 shares of the pipeline company’s stock valued at $26,834,000 after acquiring an additional 19,300 shares in the last quarter. Cohen Investment Advisors LLC raised its position in TC Energy by 2.9% in the 4th quarter. Cohen Investment Advisors LLC now owns 9,831 shares of the pipeline company’s stock valued at $457,000 after purchasing an additional 279 shares during the last quarter. Ritholtz Wealth Management lifted its position in TC Energy by 44.8% during the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock worth $1,115,000 after buying an additional 7,412 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. lifted its position in shares of TC Energy by 21.4% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,921 shares of the pipeline company’s stock worth $91,000 after purchasing an additional 338 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its position in TC Energy by 144.5% in the 4th quarter. Park Avenue Securities LLC now owns 18,275 shares of the pipeline company’s stock valued at $851,000 after buying an additional 10,802 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TRP shares. The Goldman Sachs Group lifted their price objective on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. BMO Capital Markets boosted their price target 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. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, TC Energy presently has a consensus rating of “Hold” and an average price target of $55.67.

TC Energy Price Performance

TRP opened at $47.57 on Friday. The company has a fifty day simple moving average of $47.47 and a 200 day simple moving average of $45.82. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The stock has a market cap of $49.43 billion, a P/E ratio of 13.18, a P/E/G ratio of 4.45 and a beta of 0.82. 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, topping analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. On average, research analysts expect that TC Energy Co. will post 2.95 EPS for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 6.91%. 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.