Atlantic Family Wealth LLC Buys New Shares in TC Energy Co. (NYSE:TRP)

Atlantic Family Wealth LLC bought a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,405 shares of the pipeline company’s stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TRP. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of TC Energy by 156.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after purchasing an additional 4,126,801 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in shares of TC Energy during the third quarter valued at about $73,162,000. Merewether Investment Management LP raised its holdings in shares of TC Energy by 37.9% during the third quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock valued at $194,776,000 after purchasing an additional 1,127,000 shares during the period. Duff & Phelps Investment Management Co. raised its holdings in shares of TC Energy by 70.7% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company’s stock valued at $83,874,000 after purchasing an additional 730,415 shares during the period. Finally, Kayne Anderson Capital Advisors LP raised its holdings in shares of TC Energy by 29.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock valued at $152,072,000 after purchasing an additional 722,619 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

TRP has been the topic of several research reports. BMO Capital Markets upped their price objective on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. 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 raised shares of TC Energy from a “hold” rating to a “buy” rating in a research report on Wednesday. TD Securities started coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Royal Bank of Canada upped 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, TC Energy has a consensus rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Stock Down 1.3 %

TC Energy stock opened at $44.94 on Friday. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37. The firm has a 50 day moving average price of $46.48 and a 200-day moving average price of $46.66. The company has a market capitalization of $46.70 billion, a P/E ratio of 13.87, a P/E/G ratio of 4.34 and a beta of 0.81. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.42 billion. During the same period in the prior year, the firm earned $1.35 EPS. As a group, equities analysts predict that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

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

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.