LPL Financial LLC Raises Position in TC Energy Co. (NYSE:TRP)

LPL Financial LLC boosted its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 911,009 shares of the pipeline company’s stock after purchasing an additional 74,391 shares during the period. LPL Financial LLC’s holdings in TC Energy were worth $42,389,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TRP. SBI Securities Co. Ltd. purchased a new position in shares of TC Energy in the fourth quarter worth about $31,000. Versant Capital Management Inc purchased a new position in TC Energy in the 4th quarter worth approximately $33,000. Synergy Investment Management LLC purchased a new position in TC Energy in the 4th quarter worth approximately $36,000. Point72 DIFC Ltd bought a new stake in TC Energy in the third quarter valued at approximately $39,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of TC Energy during the fourth quarter valued at approximately $41,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Price Performance

TRP stock opened at $48.02 on Friday. 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. The firm has a 50-day moving average of $46.54 and a 200 day moving average of $46.93. The company has a market cap of $49.90 billion, a P/E ratio of 14.82, a PEG ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its 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. 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 analyst estimates of $2.42 billion. During the same quarter in the prior year, the company earned $1.35 EPS. On average, sell-side analysts forecast that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 7.08%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is currently 72.53%.

Wall Street Analysts Forecast Growth

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