Vision Financial Markets LLC Makes New $133,000 Investment in TC Energy Co. (NYSE:TRP)

Vision Financial Markets LLC bought a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,850 shares of the pipeline company’s stock, valued at approximately $133,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRP. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in TC Energy by 156.1% during 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. Zurich Insurance Group Ltd FI bought a new position in TC Energy during the third quarter worth about $73,162,000. Merewether Investment Management LP lifted its holdings in TC Energy by 37.9% during 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. Duff & Phelps Investment Management Co. lifted its holdings in TC Energy by 70.7% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company’s stock worth $83,874,000 after acquiring an additional 730,415 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP lifted its holdings in TC Energy by 29.2% during 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. 83.13% of the stock is currently owned by institutional investors.

TC Energy Price Performance

NYSE:TRP opened at $46.37 on Thursday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The stock’s 50-day simple moving average is $46.30 and its 200 day simple moving average is $46.72. The company has a market cap of $48.19 billion, a P/E ratio of 14.31, a P/E/G ratio of 4.34 and a beta of 0.83. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter in the previous year, the business earned $1.35 earnings per share. As a group, sell-side analysts forecast that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.85 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.33%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is currently 72.53%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TRP. Royal Bank of Canada boosted their price target on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. TD Securities began coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, StockNews.com upgraded TC Energy from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.00.

TC Energy 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.