CIBC Asset Management Inc Purchases 551,980 Shares of TC Energy Co. (NYSE:TRP)

CIBC Asset Management Inc increased its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 8.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,123,344 shares of the pipeline company’s stock after acquiring an additional 551,980 shares during the quarter. TC Energy comprises approximately 1.1% of CIBC Asset Management Inc’s investment portfolio, making the stock its 23rd biggest holding. CIBC Asset Management Inc owned about 0.69% of TC Energy worth $331,863,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. NTV Asset Management LLC lifted its stake in TC Energy by 4.0% in the fourth quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock valued at $288,000 after buying an additional 239 shares in the last quarter. Catalyst Capital Advisors LLC lifted its stake in TC Energy by 7.2% in the fourth quarter. Catalyst Capital Advisors LLC now owns 325,543 shares of the pipeline company’s stock valued at $15,148,000 after buying an additional 22,000 shares in the last quarter. Americana Partners LLC bought a new position in TC Energy in the fourth quarter valued at approximately $3,576,000. Rogco LP lifted its stake in TC Energy by 100.0% in the fourth quarter. Rogco LP now owns 1,000 shares of the pipeline company’s stock valued at $47,000 after buying an additional 500 shares in the last quarter. Finally, Meixler Investment Management Ltd. lifted its stake in TC Energy by 9.8% in the fourth quarter. Meixler Investment Management Ltd. now owns 10,600 shares of the pipeline company’s stock valued at $493,000 after buying an additional 950 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

NYSE:TRP opened at $46.05 on Monday. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37. The company has a market cap of $47.85 billion, a P/E ratio of 12.76, a P/E/G ratio of 4.45 and a beta of 0.81. The firm’s fifty day moving average price is $46.61 and its two-hundred day moving average price is $46.58. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the prior year, the company posted $1.35 earnings per share. Equities analysts expect that TC Energy Co. will post 2.92 earnings per share for the current 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 given a dividend of $0.85 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a yield of 7.38%. TC Energy’s dividend payout ratio is currently 63.43%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. BMO Capital Markets boosted their price objective 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. TD Securities assumed coverage on shares of TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Finally, StockNews.com initiated coverage on shares of TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock 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.