Meixler Investment Management Ltd. Grows Stake in TC Energy Co. (NYSE:TRP)

Meixler Investment Management Ltd. grew its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 9.8% in the fourth quarter, Holdings Channel reports. The firm owned 10,600 shares of the pipeline company’s stock after purchasing an additional 950 shares during the period. Meixler Investment Management Ltd.’s holdings in TC Energy were worth $493,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Lee Financial Co grew its position in shares of TC Energy by 3.1% during the 4th quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock valued at $381,000 after purchasing an additional 246 shares in the last quarter. Allworth Financial LP grew its position in shares of TC Energy by 72.2% during the 4th quarter. Allworth Financial LP now owns 1,941 shares of the pipeline company’s stock valued at $92,000 after purchasing an additional 814 shares in the last quarter. Roxbury Financial LLC purchased a new position in shares of TC Energy during the 4th quarter valued at $280,000. Guyasuta Investment Advisors Inc. grew its position in TC Energy by 4.6% in the fourth quarter. Guyasuta Investment Advisors Inc. now owns 6,800 shares of the pipeline company’s stock worth $316,000 after acquiring an additional 300 shares in the last quarter. Finally, Quaero Capital S.A. purchased a new position in TC Energy in the fourth quarter worth $1,222,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TRP shares. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. 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. TD Securities started coverage on shares of TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. BMO Capital Markets upped their target price on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Finally, StockNews.com began coverage on shares of TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $56.00.

TC Energy Stock Performance

Shares of TRP opened at $46.05 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37. The company has a 50-day simple moving average of $46.61 and a two-hundred day simple moving average of $46.52. The firm has a market capitalization of $47.85 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data 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 31.15% and a return on equity of 12.92%. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period last year, the business posted $1.35 earnings per share. On average, analysts anticipate that TC Energy Co. will post 2.92 EPS 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 issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 7.38%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is presently 63.43%.

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.