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

Allspring Global Investments Holdings LLC boosted its stake 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 Form 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Benedict Financial Advisors Inc. increased its stake in TC Energy by 1.0% during the 4th quarter. Benedict Financial Advisors Inc. now owns 47,738 shares of the pipeline company’s stock worth $2,221,000 after buying an additional 472 shares during the period. Kingsview Wealth Management LLC increased its stake in TC Energy by 44.8% during the 4th quarter. Kingsview Wealth Management LLC now owns 6,157 shares of the pipeline company’s stock worth $286,000 after buying an additional 1,906 shares during the period. Apollon Wealth Management LLC grew its holdings in TC Energy by 20.0% during the 4th quarter. Apollon Wealth Management LLC now owns 12,677 shares of the pipeline company’s stock worth $590,000 after acquiring an additional 2,109 shares in the last quarter. Fractal Investments LLC grew its holdings in TC Energy by 38.2% during the 4th quarter. Fractal Investments LLC now owns 344,000 shares of the pipeline company’s stock worth $16,006,000 after acquiring an additional 95,000 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in TC Energy by 5.5% during the 4th quarter. Bleakley Financial Group LLC now owns 53,301 shares of the pipeline company’s stock worth $2,480,000 after purchasing an additional 2,763 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TRP has been the subject of a number of recent research reports. Royal Bank of Canada increased their price target on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. BMO Capital Markets increased their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. StockNews.com initiated coverage on shares of TC Energy in a research note on Wednesday, December 4th. They set a “hold” rating for the company. Finally, TD Securities assumed coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $62.00.

TC Energy Trading Up 1.0 %

NYSE TRP opened at $46.38 on Wednesday. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37. The company’s 50 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 quick ratio of 1.23 and a current ratio of 1.31. The firm has a market capitalization of $48.19 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 4.45 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. During the same quarter in the previous year, the firm earned $1.35 earnings per share. On average, sell-side analysts predict that TC Energy Co. will post 2.92 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 7.33%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is currently 63.43%.

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.