Sei Investments Co. Buys 3,636 Shares of TC Energy Co. (NYSE:TRP)

Sei Investments Co. boosted its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,239 shares of the pipeline company’s stock after purchasing an additional 3,636 shares during the quarter. Sei Investments Co.’s holdings in TC Energy were worth $2,105,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRP. SBI Securities Co. Ltd. acquired a new stake in shares of TC Energy in the 4th quarter valued at about $31,000. Versant Capital Management Inc bought a new position in TC Energy in the fourth quarter worth approximately $33,000. Synergy Investment Management LLC acquired a new stake in TC Energy in the fourth quarter valued at approximately $36,000. Point72 DIFC Ltd bought a new stake in shares of TC Energy during the third quarter valued at approximately $39,000. Finally, Millstone Evans Group LLC acquired a new position in shares of TC Energy during the fourth quarter worth approximately $41,000. 83.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TRP shares. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. 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. Royal Bank of Canada raised their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. StockNews.com lowered TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Citigroup started coverage on TC Energy in a report on Friday. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, TC Energy has an average rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Price Performance

TRP opened at $46.07 on Friday. The firm has a market cap of $47.88 billion, a P/E ratio of 14.22, a PEG ratio of 4.34 and a beta of 0.74. 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 Co. has a fifty-two week low of $34.95 and a fifty-two week high of $50.37. The firm has a 50-day moving average of $46.57 and a 200 day moving average of $46.99.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating 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 firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the prior year, the firm earned $1.35 EPS. On average, research analysts expect that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company 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 dividend of $0.85 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 7.38%. TC Energy’s dividend payout ratio is presently 72.53%.

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.