6,148 Shares in TC Energy Co. (NYSE:TRP) Purchased by Stevens Capital Management LP

Stevens Capital Management LP acquired a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,148 shares of the pipeline company’s stock, valued at approximately $240,000.

A number of other institutional investors also recently made changes to their positions in TRP. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of TC Energy by 70.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock worth $569,058,000 after acquiring an additional 6,840,000 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of TC Energy by 18.0% during the third quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company’s stock worth $849,037,000 after acquiring an additional 3,740,495 shares during the period. Blackstone Inc. boosted its holdings in shares of TC Energy by 540.4% during the third quarter. Blackstone Inc. now owns 3,117,031 shares of the pipeline company’s stock worth $107,257,000 after acquiring an additional 2,630,324 shares during the period. Morgan Stanley boosted its holdings in shares of TC Energy by 42.5% during the third quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock worth $234,719,000 after acquiring an additional 2,034,846 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in shares of TC Energy by 24.8% during the third quarter. CIBC Asset Management Inc now owns 9,567,604 shares of the pipeline company’s stock worth $330,044,000 after acquiring an additional 1,901,838 shares during the period. Institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

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

TC Energy Price Performance

TRP traded down $0.02 during trading on Friday, hitting $36.07. 2,934,696 shares of the stock traded hands, compared to its average volume of 3,033,185. TC Energy Co. has a twelve month low of $32.51 and a twelve month high of $42.49. The company has a market cap of $36.07 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 3.11 and a beta of 0.75. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88. The business has a 50 day moving average price of $38.90 and a 200 day moving average price of $38.03.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.20. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. Equities research analysts forecast that TC Energy Co. will post 2.89 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.714 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 annualized dividend and a dividend yield of 7.92%. TC Energy’s dividend 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.