Lipe & Dalton Increases Stake in TC Energy Co. (NYSE:TRP)

Lipe & Dalton boosted its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,117 shares of the pipeline company’s stock after acquiring an additional 1,300 shares during the period. Lipe & Dalton’s holdings in TC Energy were worth $1,725,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. ICA Group Wealth Management LLC lifted its holdings in shares of TC Energy by 23.8% in the 1st quarter. ICA Group Wealth Management LLC now owns 1,450 shares of the pipeline company’s stock worth $56,000 after acquiring an additional 279 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in TC Energy by 14.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,315 shares of the pipeline company’s stock valued at $80,000 after buying an additional 288 shares in the last quarter. Boothbay Fund Management LLC lifted its holdings in TC Energy by 1.0% during the 2nd quarter. Boothbay Fund Management LLC now owns 31,537 shares of the pipeline company’s stock valued at $1,274,000 after buying an additional 300 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in TC Energy by 25.8% during the 4th quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock valued at $58,000 after buying an additional 304 shares in the last quarter. Finally, Wealth Alliance lifted its holdings in TC Energy by 1.4% during the 4th quarter. Wealth Alliance now owns 22,531 shares of the pipeline company’s stock valued at $881,000 after buying an additional 304 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TRP shares. Stifel Nicolaus started coverage on shares of TC Energy in a report on Thursday, January 18th. They set a “buy” rating for the company. TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Jefferies Financial Group began coverage on shares of TC Energy in a research report on Tuesday, February 27th. They issued a “hold” rating on the stock. The Goldman Sachs Group lifted their target price on shares of TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. Finally, Barclays lifted their price objective on shares of TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, TC Energy has an average rating of “Hold” and an average target price of $48.83.

TC Energy Stock Performance

Shares of NYSE TRP traded down $0.81 during mid-day trading on Tuesday, hitting $35.19. 5,283,436 shares of the company were exchanged, compared to its average volume of 2,931,164. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65. The stock has a 50 day simple moving average of $39.25 and a 200-day simple moving average of $37.97. TC Energy Co. has a 1-year low of $32.51 and a 1-year high of $42.49. The firm has a market cap of $35.19 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 3.02 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. On average, sell-side analysts forecast that TC Energy Co. will post 2.99 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.714 per share. This represents a $2.86 annualized dividend and a dividend yield of 8.12%. The ex-dividend date is Wednesday, March 27th. This is an increase from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s payout ratio is 139.41%.

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.