TC Energy Co. (NYSE:TRP) Stock Position Lifted by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,034,698 shares of the pipeline company’s stock after acquiring an additional 71,955 shares during the period. TC Energy makes up 1.0% of Exchange Traded Concepts LLC’s portfolio, making the stock its 15th biggest holding. Exchange Traded Concepts LLC owned approximately 0.10% of TC Energy worth $48,144,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of TC Energy by 156.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after purchasing an additional 4,126,801 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of TC Energy in the 3rd quarter valued at $73,162,000. Point72 Asset Management L.P. bought a new stake in shares of TC Energy in the 2nd quarter worth about $50,257,000. Merewether Investment Management LP increased its position in shares of TC Energy by 37.9% during the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock worth $194,776,000 after purchasing an additional 1,127,000 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its holdings in TC Energy by 70.7% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company’s stock valued at $83,874,000 after purchasing an additional 730,415 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Down 0.2 %

Shares of NYSE:TRP opened at $47.02 on Friday. The company has a 50 day moving average price of $47.50 and a two-hundred day moving average price of $45.81. The company has a market capitalization of $48.86 billion, a PE ratio of 13.02, a PEG ratio of 4.45 and a beta of 0.82. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. Analysts forecast that TC Energy Co. will post 2.95 earnings per share for the current 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. This represents a $3.29 annualized dividend and a dividend yield of 6.99%. The ex-dividend date is Tuesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio is 63.43%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. StockNews.com started coverage on TC Energy in a report on Wednesday, December 4th. They set a “hold” rating for the company. TD Securities started coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group raised their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average 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.