TC Energy Co. (NYSE:TRP) Shares Bought by DAVENPORT & Co LLC

DAVENPORT & Co LLC raised its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,621 shares of the pipeline company’s stock after purchasing an additional 3,334 shares during the period. DAVENPORT & Co LLC’s holdings in TC Energy were worth $3,989,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in TRP. Fortitude Family Office LLC acquired a new position in shares of TC Energy in the 3rd quarter valued at approximately $28,000. Blue Trust Inc. raised its position in shares of TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares in the last quarter. Versant Capital Management Inc acquired a new position in shares of TC Energy in the 4th quarter valued at approximately $33,000. Point72 DIFC Ltd acquired a new position in shares of TC Energy in the 3rd quarter valued at approximately $39,000. Finally, UMB Bank n.a. acquired a new stake in shares of TC Energy during the 4th quarter valued at approximately $47,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. BMO Capital Markets upped their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. TD Securities assumed coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. The Goldman Sachs Group upped their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Finally, Veritas raised TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, TC Energy currently has an average rating of “Hold” and a consensus price target of $56.00.

TC Energy Trading Up 0.5 %

NYSE:TRP opened at $45.29 on Tuesday. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37. The stock has a market cap of $47.06 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 4.31 and a beta of 0.82. The business has a fifty day moving average of $46.99 and a 200-day moving average of $46.21. 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 released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.83 billion. Equities analysts predict that TC Energy Co. will post 2.95 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.822 per share. The ex-dividend date was Tuesday, December 31st. This represents a $3.29 annualized dividend and a yield of 7.26%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is currently 63.16%.

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.