Midwest Professional Planners LTD. Purchases Shares of 7,313 TC Energy Co. (NYSE:TRP)

Midwest Professional Planners LTD. purchased a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 7,313 shares of the pipeline company’s stock, valued at approximately $340,000.

A number of other large investors also recently bought and sold shares of TRP. SBI Securities Co. Ltd. acquired a new position in shares of TC Energy during the 4th quarter worth approximately $31,000. Versant Capital Management Inc acquired a new position in shares of TC Energy during the 4th quarter worth approximately $33,000. Synergy Investment Management LLC acquired a new position in shares of TC Energy during the 4th quarter worth approximately $36,000. Point72 DIFC Ltd acquired a new position in shares of TC Energy during the 3rd quarter worth approximately $39,000. Finally, First Command Advisory Services Inc. acquired a new position in shares of TC Energy during the 4th quarter worth approximately $46,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on TRP. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. StockNews.com cut TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Royal Bank of Canada boosted their price target on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, BMO Capital Markets boosted their price target on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Stock Up 1.3 %

Shares of NYSE:TRP opened at $47.20 on Friday. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The business has a fifty day moving average of $46.25 and a two-hundred day moving average of $46.78. The stock has a market cap of $49.04 billion, a P/E ratio of 14.57, a PEG ratio of 4.34 and a beta of 0.83. TC Energy Co. has a 52-week low of $34.95 and a 52-week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the prior year, the business earned $1.35 EPS. On average, research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.85 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a yield of 7.20%. This is a boost from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is presently 72.53%.

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.