TC Energy Co. (NYSE:TRP) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,264 shares of the pipeline company’s stock after buying an additional 1,231 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in TC Energy were worth $868,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Canada Pension Plan Investment Board raised its stake in TC Energy by 107.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock worth $737,609,000 after acquiring an additional 10,065,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of TC Energy by 156.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after purchasing an additional 4,126,801 shares during the period. Merewether Investment Management LP purchased a new position in shares of TC Energy in the second quarter worth about $112,618,000. Marshall Wace LLP raised its stake in shares of TC Energy by 841.1% in the second quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company’s stock worth $77,349,000 after purchasing an additional 1,824,008 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of TC Energy during the third quarter worth about $73,162,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Performance

TRP opened at $46.87 on Thursday. The stock has a market cap of $48.69 billion, a P/E ratio of 12.98, a P/E/G ratio of 3.88 and a beta of 0.82. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The firm has a fifty day moving average price of $47.71 and a 200 day moving average price of $45.48. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. Equities research analysts anticipate that TC Energy Co. will post 3 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.822 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 7.02%. TC Energy’s dividend payout ratio is presently 63.16%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TRP. Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. StockNews.com assumed coverage on shares of TC Energy in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. The Goldman Sachs Group boosted their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Finally, BMO Capital Markets lifted their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, TC Energy has an average rating of “Hold” and an average price target of $55.67.

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.