Genesis Private Wealth LLC Buys Shares of 4,583 TC Energy Co. (NYSE:TRP)

Genesis Private Wealth LLC bought a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 4,583 shares of the pipeline company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its stake in TC Energy by 4.1% in the second quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock valued at $450,749,000 after purchasing an additional 467,497 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in TC Energy by 156.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after acquiring an additional 4,126,801 shares in the last quarter. Geode Capital Management LLC boosted its holdings in TC Energy by 8.3% in the third quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock worth $225,890,000 after acquiring an additional 360,548 shares in the last quarter. Merewether Investment Management LP boosted its holdings in TC Energy by 37.9% in the third quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock worth $194,776,000 after acquiring an additional 1,127,000 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in TC Energy by 29.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock worth $152,072,000 after acquiring an additional 722,619 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TRP shares. StockNews.com started coverage on TC Energy in a report on Wednesday, December 4th. They issued a “hold” rating for the company. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. The Goldman Sachs Group lifted their target price on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $55.67.

TC Energy Trading Up 0.3 %

Shares of NYSE:TRP opened at $47.52 on Wednesday. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37. The company has a market capitalization of $49.38 billion, a PE ratio of 13.16, a PEG ratio of 4.47 and a beta of 0.82. The business has a 50 day moving average of $47.54 and a two-hundred day moving average of $45.74. 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 results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. As a group, analysts forecast that TC Energy Co. will post 2.95 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a yield of 6.92%. TC Energy’s payout ratio is presently 63.16%.

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.