Allspring Global Investments Holdings LLC Grows Position in TC Energy Co. (NYSE:TRP)

Allspring Global Investments Holdings LLC grew its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 53.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 219,975 shares of the pipeline company’s stock after buying an additional 76,827 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in TC Energy were worth $10,420,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. grew its stake in TC Energy by 156.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after buying an additional 4,126,801 shares during the period. Geode Capital Management LLC grew its stake in TC Energy by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock worth $225,890,000 after buying an additional 360,548 shares during the period. Merewether Investment Management LP grew its stake in 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 worth $194,776,000 after buying an additional 1,127,000 shares during the period. Kayne Anderson Capital Advisors LP grew its stake in TC Energy by 29.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock worth $152,072,000 after buying an additional 722,619 shares during the period. Finally, Swiss National Bank grew its stake in TC Energy by 0.8% during the third quarter. Swiss National Bank now owns 3,137,901 shares of the pipeline company’s stock worth $149,401,000 after buying an additional 24,800 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TRP shares. BMO Capital Markets upped their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. 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. TD Securities started coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. StockNews.com started coverage on shares of TC Energy in a research note on Wednesday, December 4th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada upped their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $62.00.

TC Energy Trading Up 1.0 %

TRP opened at $46.38 on Wednesday. The stock has a market capitalization of $48.19 billion, a PE ratio of 12.85, a P/E/G ratio of 4.45 and a beta of 0.81. The firm’s fifty day moving average price is $46.58 and its 200 day moving average price is $46.60. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. During the same period in the prior year, the company earned $1.35 earnings per share. As a group, research analysts expect that TC Energy Co. will post 2.92 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 7.33%. 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. TC Energy’s dividend payout ratio is 63.43%.

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.