Bell Bank Acquires 21,970 Shares of TC Energy Co. (NYSE:TRP)

Bell Bank boosted its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 14.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 175,742 shares of the pipeline company’s stock after buying an additional 21,970 shares during the quarter. Bell Bank’s holdings in TC Energy were worth $8,177,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC acquired a new position in TC Energy during the third quarter valued at approximately $28,000. Blue Trust Inc. grew its holdings in shares of TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after buying an additional 267 shares during the period. Versant Capital Management Inc bought a new stake in shares of TC Energy in the 4th quarter valued at $33,000. Point72 DIFC Ltd acquired a new stake in TC Energy during the 3rd quarter worth $39,000. Finally, Rogco LP lifted its holdings in TC Energy by 100.0% during the fourth quarter. Rogco LP now owns 1,000 shares of the pipeline company’s stock worth $47,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TRP shares. StockNews.com upgraded TC Energy from a “hold” rating to a “buy” rating in a report on Wednesday. BMO Capital Markets increased their target price on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. TD Securities began coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating 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. Finally, Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Trading Down 1.3 %

Shares of NYSE:TRP opened at $44.94 on Friday. The company’s 50-day moving average price is $46.48 and its two-hundred day moving average price is $46.63. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37. 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 $46.70 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 4.34 and a beta of 0.81.

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

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 7.57%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s payout ratio is presently 70.68%.

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.