Millstone Evans Group LLC Takes Position in TC Energy Co. (NYSE:TRP)

Millstone Evans Group LLC bought a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 871 shares of the pipeline company’s stock, valued at approximately $41,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TRP. SBI Securities Co. Ltd. bought a new position in shares of TC Energy during the 4th quarter worth approximately $31,000. Versant Capital Management Inc acquired a new position in shares of TC Energy during the 4th quarter valued at $33,000. Synergy Investment Management LLC bought a new position in TC Energy during the fourth quarter worth $36,000. Point72 DIFC Ltd acquired a new stake in TC Energy in the third quarter worth $39,000. Finally, First Command Advisory Services Inc. bought a new stake in TC Energy in the fourth quarter valued at $46,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

TRP opened at $49.28 on Tuesday. The firm’s fifty day moving average price is $46.40 and its two-hundred day moving average price is $46.89. The company has a market capitalization of $51.20 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 4.34 and a beta of 0.83. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. TC Energy Co. has a 1 year low of $34.95 and a 1 year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating 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 firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the business posted $1.35 EPS. As a group, analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current fiscal 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 given a dividend of $0.85 per share. The ex-dividend date is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 6.90%. TC Energy’s dividend payout ratio (DPR) is currently 72.53%.

Wall Street Analyst Weigh In

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

About TC Energy

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.