Park Avenue Securities LLC Grows Stake in TC Energy Co. (NYSE:TRP)

Park Avenue Securities LLC raised its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 144.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,275 shares of the pipeline company’s stock after purchasing an additional 10,802 shares during the period. Park Avenue Securities LLC’s holdings in TC Energy were worth $851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC purchased a new stake in TC Energy during the 3rd quarter valued at $28,000. Blue Trust Inc. raised its stake in shares of TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 267 shares during the period. Versant Capital Management Inc bought a new stake in shares of TC Energy in the 4th quarter worth about $33,000. Point72 DIFC Ltd bought a new stake in shares of TC Energy in the 3rd quarter worth about $39,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of TC Energy by 215.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company’s stock worth $57,000 after purchasing an additional 826 shares during the period. 83.13% of the stock is owned by institutional investors.

TC Energy Price Performance

TRP opened at $47.52 on Wednesday. The company has a market capitalization of $49.38 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 4.47 and a beta of 0.82. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37. The business’s fifty day simple moving average is $47.54 and its 200-day simple moving average is $45.74.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. On average, equities research analysts anticipate that TC Energy Co. will post 2.95 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 Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.92%. TC Energy’s dividend payout ratio (DPR) is currently 63.43%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. TD Securities initiated coverage on TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating for the company. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. BMO Capital Markets lifted their target price on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Finally, Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, TC Energy has a consensus rating of “Hold” and a consensus target price of $55.67.

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.