Lee Financial Co Acquires 246 Shares of TC Energy Co. (NYSE:TRP)

Lee Financial Co raised its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,185 shares of the pipeline company’s stock after purchasing an additional 246 shares during the quarter. Lee Financial Co’s holdings in TC Energy were worth $381,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TRP. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of TC Energy by 156.1% in 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 buying an additional 4,126,801 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in TC Energy in the 3rd quarter valued at about $73,162,000. Merewether Investment Management LP raised its stake in shares of TC Energy by 37.9% in the third quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock worth $194,776,000 after acquiring an additional 1,127,000 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its position 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 worth $83,874,000 after purchasing an additional 730,415 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its stake 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 last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Trading Down 2.8 %

NYSE:TRP opened at $46.05 on Friday. The firm has a market capitalization of $47.85 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 4.45 and a beta of 0.81. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The business’s 50-day moving average price is $46.61 and its two-hundred day moving average price is $46.52. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the firm earned $1.35 EPS. On average, equities analysts expect that TC Energy Co. will post 2.92 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.38%. This is a boost from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is currently 63.43%.

Analyst Ratings Changes

Several research firms recently weighed in on TRP. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. TD Securities began coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. StockNews.com began coverage on TC Energy in a report on Wednesday, December 4th. They issued a “hold” rating on the stock. BMO Capital Markets boosted their price objective on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Finally, Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.00.

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.