Mesirow Financial Investment Management Inc. Acquires 379 Shares of TC Energy Co. (NYSE:TRP)

Mesirow Financial Investment Management Inc. raised its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,554 shares of the pipeline company’s stock after buying an additional 379 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in TC Energy were worth $445,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in shares of TC Energy during the fourth quarter valued at approximately $31,000. Versant Capital Management Inc bought a new stake in shares of TC Energy during the fourth quarter valued at approximately $33,000. Synergy Investment Management LLC bought a new stake in shares of TC Energy during the fourth quarter valued at approximately $36,000. Point72 DIFC Ltd bought a new stake in shares of TC Energy during the third quarter valued at approximately $39,000. Finally, First Command Advisory Services Inc. bought a new stake in shares of TC Energy during the fourth quarter valued at approximately $46,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Up 0.8 %

TRP stock opened at $45.86 on Friday. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The business has a fifty day moving average price of $46.28 and a 200-day moving average price of $46.74. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The stock has a market capitalization of $47.66 billion, a P/E ratio of 14.15, a P/E/G ratio of 4.34 and a beta of 0.83.

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

TC Energy Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. TD Securities assumed coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada lifted their price objective on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, StockNews.com cut TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday. One 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. Based on data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

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.