D.A. Davidson & CO. Buys New Position in TC Energy Co. (NYSE:TRP)

D.A. Davidson & CO. purchased a new position in TC Energy Co. (NYSE:TRP) (TSE:TRP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,379 shares of the pipeline company’s stock, valued at approximately $297,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRP. Blue Trust Inc. lifted its position in TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares during the period. Private Advisor Group LLC increased its position in shares of TC Energy by 7.4% in the third quarter. Private Advisor Group LLC now owns 27,480 shares of the pipeline company’s stock valued at $1,307,000 after buying an additional 1,888 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in TC Energy in the 3rd quarter worth $3,034,000. Assenagon Asset Management S.A. raised its position in shares of TC Energy by 19.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 32,312 shares of the pipeline company’s stock worth $1,538,000 after purchasing an additional 5,275 shares during the last quarter. Finally, PFG Investments LLC purchased a new position in shares of TC Energy in the third quarter valued at approximately $239,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of TRP opened at $44.41 on Thursday. The firm has a fifty day moving average price of $46.39 and a 200 day moving average price of $46.68. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The stock has a market cap of $46.15 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 4.34 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. The business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations 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 company posted $1.35 EPS. As a group, sell-side analysts anticipate that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.85 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 7.66%. The ex-dividend date is Monday, March 31st. TC Energy’s dividend payout ratio (DPR) is currently 71.91%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TRP shares. BMO Capital Markets boosted 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 report on Wednesday, November 20th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. StockNews.com raised shares of TC Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, TD Securities started coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.