Thrivent Financial for Lutherans Acquires 504 Shares of TC Energy Co. (NYSE:TRP)

Thrivent Financial for Lutherans raised its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 10.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,468 shares of the pipeline company’s stock after acquiring an additional 504 shares during the quarter. Thrivent Financial for Lutherans’ holdings in TC Energy were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Kayne Anderson Capital Advisors LP lifted its holdings in TC Energy by 51.4% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company’s stock worth $225,310,000 after purchasing an additional 1,644,115 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of TC Energy in the fourth quarter worth about $75,464,000. Zurich Insurance Group Ltd FI bought a new position in shares of TC Energy in the third quarter valued at approximately $73,162,000. Duff & Phelps Investment Management Co. grew its stake in TC Energy by 70.7% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company’s stock valued at $83,874,000 after acquiring an additional 730,415 shares in the last quarter. Finally, FMR LLC increased its holdings in TC Energy by 2,821.8% during the 3rd quarter. FMR LLC now owns 574,427 shares of the pipeline company’s stock worth $27,311,000 after acquiring an additional 554,767 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Down 5.4 %

TRP stock opened at $46.07 on Friday. TC Energy Co. has a one year low of $34.95 and a one year high of $50.37. The company has a market capitalization of $47.88 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74. The company’s 50 day moving average price is $46.57 and its two-hundred day moving average price is $46.99. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period in the previous year, the firm posted $1.35 earnings per share. As a group, analysts predict 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. Investors of record on Monday, March 31st will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 7.38%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. TC Energy’s dividend payout ratio (DPR) is presently 72.53%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TRP shares. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Royal Bank of Canada upped their target price on 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 began coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, Citigroup assumed coverage on shares of TC Energy in a research report on Friday. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

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.