Guardian Partners Inc. Takes $8.61 Million Position in TC Energy Co. (NYSE:TRP)

Guardian Partners Inc. bought a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) in the 4th quarter, Holdings Channel.com reports. The firm bought 180,386 shares of the pipeline company’s stock, valued at approximately $8,614,000.

Several other hedge funds have also bought and sold shares of TRP. SBI Securities Co. Ltd. acquired a new stake in TC Energy in the 4th quarter valued at about $31,000. Versant Capital Management Inc acquired a new stake in TC Energy in the 4th quarter valued at about $33,000. Synergy Investment Management LLC acquired a new stake in TC Energy in the 4th quarter valued at about $36,000. Point72 DIFC Ltd acquired a new stake in TC Energy in the 3rd quarter valued at about $39,000. Finally, Millstone Evans Group LLC acquired a new stake in TC Energy in the 4th quarter valued at about $41,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TRP shares. TD Securities started coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Royal Bank of Canada raised their price objective on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, TC Energy currently has an average rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Stock Down 1.5 %

Shares of TRP opened at $48.45 on Friday. TC Energy Co. has a 12 month low of $34.95 and a 12 month high of $50.37. The firm’s 50 day moving average is $46.33 and its 200-day moving average is $46.87. The stock has a market capitalization of $50.34 billion, a PE ratio of 14.95, a P/E/G ratio of 4.34 and a beta of 0.83. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.

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

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 7.02%. TC Energy’s dividend payout ratio (DPR) is currently 72.53%.

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.