Steward Partners Investment Advisory LLC Increases Stock Position in TC Energy Co. (NYSE:TRP)

Steward Partners Investment Advisory LLC lifted its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 108.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,718 shares of the pipeline company’s stock after purchasing an additional 2,454 shares during the period. Steward Partners Investment Advisory LLC’s holdings in TC Energy were worth $220,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of TC Energy in the 4th quarter worth approximately $31,000. Versant Capital Management Inc bought a new position in shares of TC Energy during the 4th quarter worth approximately $33,000. Point72 DIFC Ltd bought a new position in shares of TC Energy during the 3rd quarter worth approximately $39,000. First Command Advisory Services Inc. bought a new position in shares of TC Energy during the 4th quarter worth approximately $46,000. Finally, UMB Bank n.a. bought a new position in shares of TC Energy during the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

NYSE:TRP opened at $47.20 on Friday. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The company’s 50-day moving average price is $46.25 and its 200-day moving average price is $46.78. TC Energy Co. has a twelve month low of $34.95 and a twelve month high of $50.37. The company has a market cap of $49.04 billion, a P/E ratio of 14.57, a P/E/G ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the previous year, the firm earned $1.35 earnings per share. On average, sell-side analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.20%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. TC Energy’s payout ratio is 72.53%.

Analyst Upgrades and Downgrades

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

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.