Korea Investment CORP Purchases 325,627 Shares of TC Energy Co. (NYSE:TRP)

Korea Investment CORP raised its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 108.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 625,606 shares of the pipeline company’s stock after purchasing an additional 325,627 shares during the period. Korea Investment CORP’s holdings in TC Energy were worth $29,140,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TRP. SBI Securities Co. Ltd. purchased a new stake in shares of TC Energy in the 4th quarter valued at about $31,000. Versant Capital Management Inc purchased a new position in TC Energy in the fourth quarter worth $33,000. Synergy Investment Management LLC purchased a new stake in TC Energy during the fourth quarter valued at about $36,000. Point72 DIFC Ltd purchased a new position in shares of TC Energy in the 3rd quarter worth about $39,000. Finally, Millstone Evans Group LLC purchased a new position in shares of TC Energy in the 4th quarter worth about $41,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TRP. Royal Bank of Canada boosted their target price on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. TD Securities began coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Finally, StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Stock Down 0.5 %

Shares of TC Energy stock opened at $48.02 on Friday. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. TC Energy Co. has a 12-month low of $34.95 and a 12-month high of $50.37. The company has a market cap of $49.90 billion, a P/E ratio of 14.82, a PEG ratio of 4.34 and a beta of 0.83. The company’s fifty day simple moving average is $46.54 and its two-hundred day simple moving average is $46.93.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly 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. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period in the prior year, the firm earned $1.35 earnings per share. Research analysts anticipate that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed 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. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a yield of 7.08%. TC Energy’s dividend payout ratio is 72.53%.

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.