3,919 Shares in TC Energy Co. (NYSE:TRP) Purchased by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB bought a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 3rd quarter, Holdings Channel reports. The firm bought 3,919 shares of the pipeline company’s stock, valued at approximately $186,000.

Other hedge funds have also made changes to their positions in the company. EdgeRock Capital LLC purchased a new stake in shares of TC Energy during the 2nd quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. raised its position in TC Energy by 138.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 429 shares during the period. Fortitude Family Office LLC acquired a new position in shares of TC Energy in the 3rd quarter valued at $28,000. Blue Trust Inc. grew its holdings in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in shares of TC Energy during the 3rd quarter worth about $39,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of TRP opened at $45.10 on Thursday. The company has a market cap of $46.81 billion, a P/E ratio of 12.49, a PEG ratio of 3.88 and a beta of 0.82. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The firm’s 50 day moving average price is $47.79 and its 200 day moving average price is $44.39.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. On average, research analysts forecast that TC Energy Co. will post 3 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 Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given 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 7.29%. TC Energy’s dividend payout ratio is currently 67.31%.

Wall Street Analyst Weigh In

A number of research analysts have commented on TRP shares. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. StockNews.com started coverage on shares of TC Energy in a report on Wednesday, December 4th. They issued a “hold” rating for the company. BMO Capital Markets upped their price target on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Finally, Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, TC Energy presently has an average rating of “Hold” and a consensus price target of $55.67.

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.