Raymond James Trust N.A. Purchases 1,621 Shares of TC Energy Co. (NYSE:TRP)

Raymond James Trust N.A. raised its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,283 shares of the pipeline company’s stock after acquiring an additional 1,621 shares during the quarter. Raymond James Trust N.A.’s holdings in TC Energy were worth $1,440,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC increased its holdings in TC Energy by 1.6% during the 2nd quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock valued at $621,000 after purchasing an additional 261 shares during the period. Prospera Financial Services Inc increased its stake in shares of TC Energy by 4.8% during the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock valued at $274,000 after buying an additional 262 shares during the period. First Horizon Advisors Inc. increased its stake in shares of TC Energy by 8.1% during the third quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock valued at $167,000 after buying an additional 264 shares during the period. Blue Trust Inc. raised its holdings in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 267 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its stake in TC Energy by 1.9% in the first quarter. Mount Yale Investment Advisors LLC now owns 19,873 shares of the pipeline company’s stock worth $799,000 after acquiring an additional 364 shares during the period. 83.13% of the stock is owned by institutional investors.

TC Energy Price Performance

Shares of NYSE TRP opened at $49.85 on Friday. The company has a 50 day simple moving average of $47.22 and a two-hundred day simple moving average of $43.22. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The company has a market capitalization of $51.74 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 4.22 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. Analysts expect that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.822 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.60%. TC Energy’s payout ratio is presently 67.31%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. BMO Capital Markets boosted their price target on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday. StockNews.com initiated coverage on shares of TC Energy in a report on Monday, November 18th. They issued a “hold” rating for the company. The Goldman Sachs Group upped their target price on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. Finally, Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $55.67.

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.