Natixis Advisors LLC Boosts Stock Holdings in TC Energy Co. (NYSE:TRP)

Natixis Advisors LLC lifted its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 40.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,520 shares of the pipeline company’s stock after buying an additional 20,082 shares during the period. Natixis Advisors LLC’s holdings in TC Energy were worth $3,235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Kayne Anderson Capital Advisors LP grew its holdings in shares of TC Energy by 51.4% in 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 last quarter. Raymond James Financial Inc. bought a new stake in TC Energy in the 4th quarter worth $75,464,000. Zurich Insurance Group Ltd FI purchased a new position in shares of TC Energy in the third quarter valued at about $73,162,000. Merewether Investment Management LP raised its stake in shares of TC Energy by 37.9% during 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 last quarter. Finally, Duff & Phelps Investment Management Co. grew its stake in shares of TC Energy by 70.7% in 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 purchasing an additional 730,415 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TRP. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. TD Securities began coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Royal Bank of Canada raised their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Stock Down 1.5 %

NYSE:TRP opened at $48.45 on Friday. TC Energy Co. has a 1-year low of $34.95 and a 1-year high of $50.37. The company has a market capitalization of $50.34 billion, a PE ratio of 14.95, a P/E/G ratio of 4.34 and a beta of 0.83. The firm’s 50-day moving average price is $46.33 and its 200-day moving average price is $46.87. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23.

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

TC Energy Increases Dividend

The business also recently disclosed 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. This is a boost from TC Energy’s previous quarterly dividend of $0.82. 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 7.02%. TC Energy’s payout ratio is presently 72.53%.

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.