Rhumbline Advisers Has $261,000 Holdings in TC Energy Co. (NYSE:TRP)

Rhumbline Advisers decreased its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 17.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,620 shares of the pipeline company’s stock after selling 1,159 shares during the quarter. Rhumbline Advisers’ holdings in TC Energy were worth $261,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TRP. Addenda Capital Inc. raised its stake in TC Energy by 4.4% in the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock valued at $48,135,000 after acquiring an additional 43,639 shares during the period. Captrust Financial Advisors increased its holdings in shares of TC Energy by 1.3% in the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after purchasing an additional 242 shares during the last quarter. Ritholtz Wealth Management raised its position in shares of TC Energy by 44.8% in the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock valued at $1,115,000 after purchasing an additional 7,412 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of TC Energy during the 3rd quarter worth about $3,771,000. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of TC Energy by 7.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,034,698 shares of the pipeline company’s stock worth $48,144,000 after buying an additional 71,955 shares during the period. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Up 0.8 %

TC Energy stock opened at $45.86 on Monday. The firm has a market capitalization of $47.66 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The firm’s fifty day moving average price is $46.28 and its two-hundred day moving average price is $46.75. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly 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. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates 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 last year, the firm earned $1.35 earnings per share. On average, equities research analysts predict that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.85 dividend. 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 yield of 7.41%. TC Energy’s dividend payout ratio is presently 72.53%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TRP. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. BMO Capital Markets increased their price objective 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. Royal Bank of Canada boosted their target price 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 shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, TD Securities assumed coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $62.00.

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.