TC Energy Co. (NYSE:TRP) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,329 shares of the pipeline company’s stock after buying an additional 14,902 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in TC Energy were worth $15,386,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRP. SBI Securities Co. Ltd. bought a new position in TC Energy during the 4th quarter valued at $31,000. Versant Capital Management Inc acquired a new stake in shares of TC Energy in the 4th quarter valued at about $33,000. Synergy Investment Management LLC bought a new position in shares of TC Energy during the fourth quarter worth about $36,000. Point72 DIFC Ltd acquired a new position in TC Energy in the third quarter worth about $39,000. Finally, First Command Advisory Services Inc. bought a new stake in TC Energy in the fourth quarter valued at about $46,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Performance

Shares of TRP opened at $46.60 on Thursday. The firm has a fifty day moving average of $46.27 and a 200-day moving average of $46.77. The company has a market cap of $48.43 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. TC Energy Co. has a 1 year low of $34.95 and a 1 year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period in the previous year, the business posted $1.35 EPS. As a group, equities analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently announced 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 is a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a yield of 7.30%. The ex-dividend date is Monday, March 31st. TC Energy’s dividend payout ratio (DPR) is currently 72.53%.

Analyst Ratings Changes

TRP has been the topic of a number of research analyst reports. Royal Bank of Canada increased their target price on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. TD Securities started coverage on TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, BMO Capital Markets lifted their price target on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.00.

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.