Assetmark Inc. Purchases 9,500 Shares of TC Energy Co. (NYSE:TRP)

Assetmark Inc. grew its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 10.6% during the fourth quarter, HoldingsChannel reports. The firm owned 98,863 shares of the pipeline company’s stock after buying an additional 9,500 shares during the quarter. Assetmark Inc.’s holdings in TC Energy were worth $4,600,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in TC Energy during the fourth quarter worth $31,000. Versant Capital Management Inc bought a new position in TC Energy during the fourth quarter worth $33,000. Synergy Investment Management LLC bought a new position in TC Energy during the fourth quarter worth $36,000. Point72 DIFC Ltd bought a new stake in TC Energy in the 3rd quarter valued at $39,000. Finally, First Command Advisory Services Inc. bought a new stake in TC Energy in the 4th quarter valued at $46,000. Institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TRP shares. Royal Bank of Canada boosted their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday. BMO Capital Markets boosted their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Finally, Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Stock Up 0.8 %

Shares of NYSE TRP opened at $45.86 on Friday. The firm’s 50-day simple moving average is $46.28 and its 200 day simple moving average is $46.74. The company has a market cap of $47.66 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth 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 Co. has a 12-month low of $31.83 and a 12-month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 29.40% and a return on equity of 12.12%. During the same quarter in the prior year, the company earned $1.35 EPS. On average, research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.85 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 7.41%. TC Energy’s dividend payout ratio is 72.53%.

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.