TC Energy Co. (NYSE:TRP) Shares Acquired by Zions Bancorporation N.A.

Zions Bancorporation N.A. increased its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,150 shares of the pipeline company’s stock after acquiring an additional 19,223 shares during the quarter. Zions Bancorporation N.A.’s holdings in TC Energy were worth $7,777,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Addenda Capital Inc. increased its position in shares of TC Energy by 4.4% during the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock worth $48,135,000 after purchasing an additional 43,639 shares in the last quarter. Captrust Financial Advisors increased its position in TC Energy by 1.3% during 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 during the period. Ritholtz Wealth Management lifted its stake in 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 buying an additional 7,412 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of TC Energy in the third quarter valued at approximately $3,771,000. Finally, Exchange Traded Concepts LLC grew its position in shares of TC Energy by 7.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,034,698 shares of the pipeline company’s stock worth $48,144,000 after acquiring an additional 71,955 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Up 1.7 %

NYSE TRP opened at $49.28 on Tuesday. TC Energy Co. has a 52-week low of $34.95 and a 52-week high of $50.37. The firm has a 50-day moving average price of $46.40 and a 200 day moving average price of $46.89. The stock has a market capitalization of $51.20 billion, a P/E ratio of 15.21, a P/E/G ratio of 4.34 and a beta of 0.83. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the prior year, the business posted $1.35 EPS. Equities research analysts expect that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.85 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a yield of 6.90%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is 72.53%.

Wall Street Analyst Weigh In

TRP has been the subject of several research reports. StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Royal Bank of Canada increased their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Finally, TD Securities initiated coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.00.

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.