Commonwealth Equity Services LLC Has $5.39 Million Position in TC Energy Co. (NYSE:TRP)

Commonwealth Equity Services LLC decreased its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 115,897 shares of the pipeline company’s stock after selling 2,347 shares during the quarter. Commonwealth Equity Services LLC’s holdings in TC Energy were worth $5,393,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kayne Anderson Capital Advisors LP lifted its stake in TC Energy by 51.4% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company’s stock worth $225,310,000 after purchasing an additional 1,644,115 shares during the period. Raymond James Financial Inc. bought a new position in shares of TC Energy during the 4th quarter worth approximately $75,464,000. Zurich Insurance Group Ltd FI acquired a new stake in TC Energy in the 3rd quarter valued at $73,162,000. Merewether Investment Management LP grew its position 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 valued at $194,776,000 after acquiring an additional 1,127,000 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its stake in TC Energy by 70.7% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company’s stock worth $83,874,000 after acquiring an additional 730,415 shares in the last quarter. 83.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TRP. StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. TD Securities began coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for 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. Finally, Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, TC Energy has a consensus rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Stock Down 1.5 %

Shares of TRP opened at $48.45 on Friday. The business’s fifty day moving average price is $46.33 and its two-hundred day moving average price is $46.87. The firm has a market capitalization of $50.34 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 4.34 and a beta of 0.83. TC Energy Co. has a 52 week low of $34.95 and a 52 week high of $50.37. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.54. The business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations 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 earned $1.35 earnings per share. On average, analysts predict 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. Investors of record on Monday, March 31st will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.02%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s payout ratio is 72.53%.

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.