Dearborn Partners LLC Invests $232,000 in TC Energy Co. (NYSE:TRP)

Dearborn Partners LLC purchased a new stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 4,885 shares of the pipeline company’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its position in shares of TC Energy by 2.7% during the first quarter. Capital Research Global Investors now owns 57,170,304 shares of the pipeline company’s stock valued at $2,297,701,000 after buying an additional 1,492,315 shares during the period. Vanguard Group Inc. boosted its holdings in TC Energy by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company’s stock valued at $1,650,505,000 after acquiring an additional 653,031 shares during the period. Canada Pension Plan Investment Board grew its position in TC Energy by 107.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after acquiring an additional 10,065,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in TC Energy by 94.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock worth $688,534,000 after purchasing an additional 8,339,800 shares during the period. Finally, Murchinson Ltd. bought a new stake in shares of TC Energy during the first quarter worth $506,485,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Up 0.3 %

Shares of NYSE TRP opened at $49.01 on Friday. The stock has a market capitalization of $50.87 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 4.07 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 Co. has a 12-month low of $31.83 and a 12-month high of $50.22. The stock’s fifty day simple moving average is $46.82 and its two-hundred day simple moving average is $42.64.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. As a group, analysts expect that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.822 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.71%. TC Energy’s dividend payout ratio is presently 78.95%.

Analysts Set New Price Targets

Several research firms recently commented on TRP. Veritas raised shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group lifted their price target 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. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Finally, StockNews.com initiated coverage on TC Energy in a research report on Saturday, October 5th. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $48.50.

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.