Oppenheimer Asset Management Inc. Buys New Stake in TC Energy Co. (NYSE:TRP)

Oppenheimer Asset Management Inc. purchased a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,520 shares of the pipeline company’s stock, valued at approximately $215,000.

A number of other institutional investors also recently made changes to their positions in TRP. EdgeRock Capital LLC purchased a new position in TC Energy during the second quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of TC Energy by 138.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 429 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in TC Energy in the third quarter valued at approximately $28,000. Blue Trust Inc. increased its position in TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in TC Energy during the second quarter worth approximately $33,000. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Price Performance

NYSE:TRP opened at $49.21 on Thursday. The firm has a market cap of $51.07 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. The company’s 50-day moving average price is $47.07 and its two-hundred day moving average price is $43.05. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.22.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, equities analysts anticipate that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a yield of 6.68%. The ex-dividend date is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is currently 67.31%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. BMO Capital Markets upped their target price on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday. The Goldman Sachs Group raised their target price on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. Finally, StockNews.com assumed coverage on shares of TC Energy in a research report on Monday. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, TC Energy has an average rating of “Hold” and a consensus price target of $55.67.

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.