TC Energy Co. (NYSE:TRP) Shares Bought by First Bank & Trust

First Bank & Trust lifted its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,396 shares of the pipeline company’s stock after purchasing an additional 347 shares during the period. First Bank & Trust’s holdings in TC Energy were worth $2,717,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TRP. Addenda Capital Inc. increased its position in TC Energy by 4.4% during the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock worth $48,135,000 after buying an additional 43,639 shares during the period. Captrust Financial Advisors grew its position in shares of TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after acquiring an additional 242 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of TC Energy by 44.8% in the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock valued at $1,115,000 after acquiring an additional 7,412 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in TC Energy in the 3rd quarter valued at $3,771,000. Finally, Harvest Portfolios Group Inc. boosted its stake in TC Energy by 107.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock worth $10,743,000 after purchasing an additional 117,176 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

Shares of TRP opened at $45.89 on Thursday. The firm has a market capitalization of $47.68 billion, a PE ratio of 14.16, a P/E/G ratio of 4.43 and a beta of 0.81. The stock’s 50 day moving average is $46.53 and its two-hundred day moving average is $46.62. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37. 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 posted its quarterly 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. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a return on equity of 11.95% and a net margin of 29.40%. During the same period in the previous year, the business earned $1.35 earnings per share. Research analysts anticipate that TC Energy Co. will post 2.62 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, March 31st. 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 7.41%. TC Energy’s dividend payout ratio is 70.68%.

Analyst Ratings Changes

A number of research analysts have commented on TRP shares. TD Securities assumed coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Royal Bank of Canada lifted their target price on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, StockNews.com upgraded TC Energy from a “hold” rating to a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and an average target price of $62.00.

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.