Guyasuta Investment Advisors Inc. Boosts Stock Position in TC Energy Co. (NYSE:TRP)

Guyasuta Investment Advisors Inc. increased its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,800 shares of the pipeline company’s stock after acquiring an additional 300 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in TC Energy were worth $316,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Addenda Capital Inc. raised its position in shares of TC Energy by 4.4% in the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock worth $48,135,000 after buying an additional 43,639 shares in the last quarter. Captrust Financial Advisors raised its position 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 worth $871,000 after buying an additional 242 shares in 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 worth $1,115,000 after buying an additional 7,412 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of TC Energy in the third quarter worth $3,771,000. Finally, Harvest Portfolios Group Inc. raised its position in shares of TC Energy by 107.7% in the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock worth $10,743,000 after buying an additional 117,176 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Down 2.8 %

Shares of NYSE:TRP opened at $46.05 on Friday. The stock’s 50-day moving average price is $46.65 and its 200-day moving average price is $46.49. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37. The stock has a market capitalization of $47.85 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. 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 (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. During the same quarter in the previous year, the company earned $1.35 EPS. On average, equities analysts anticipate that TC Energy Co. will post 2.92 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently announced 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 a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 7.38%. TC Energy’s dividend payout ratio (DPR) is presently 63.43%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. BMO Capital Markets raised their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Finally, StockNews.com began coverage on TC Energy in a research report on Wednesday, December 4th. They set a “hold” rating on the stock. Two equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.00.

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.