Orion Portfolio Solutions LLC Buys 502 Shares of TC Energy Co. (NYSE:TRP)

Orion Portfolio Solutions LLC raised its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,764 shares of the pipeline company’s stock after purchasing an additional 502 shares during the period. Orion Portfolio Solutions LLC’s holdings in TC Energy were worth $361,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of TC Energy by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company’s stock worth $2,035,952,000 after acquiring an additional 734,678 shares in the last quarter. TD Asset Management Inc. raised its stake in shares of TC Energy by 2.1% in the fourth quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company’s stock worth $765,627,000 after purchasing an additional 344,485 shares during the last quarter. Norges Bank acquired a new stake in TC Energy during the 4th quarter valued at approximately $428,759,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in TC Energy by 6.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,175,940 shares of the pipeline company’s stock valued at $333,993,000 after purchasing an additional 405,965 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in shares of TC Energy by 8.4% in the 4th quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company’s stock valued at $331,863,000 after buying an additional 551,980 shares during the period. 83.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on TRP. 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. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. TD Securities began coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Royal Bank of Canada boosted their price objective on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Trading Down 2.3 %

TRP opened at $44.64 on Wednesday. The business has a fifty day simple moving average of $46.55 and a 200-day simple moving average of $46.97. TC Energy Co. has a 52 week low of $34.95 and a 52 week high of $50.37. The firm has a market cap of $46.39 billion, a P/E ratio of 13.78, a P/E/G ratio of 4.34 and a beta of 0.74. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last issued 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 net margin of 29.40% and a return on equity of 12.12%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter last year, the company posted $1.35 EPS. On average, equities analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 7.62%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is 72.53%.

About TC Energy

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.