Envestnet Portfolio Solutions Inc. Increases Position in TC Energy Co. (NYSE:TRP)

Envestnet Portfolio Solutions Inc. increased its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 65,323 shares of the pipeline company’s stock after acquiring an additional 704 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in TC Energy were worth $3,041,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TRP shares. Royal Bank of Canada boosted their price objective on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. BMO Capital Markets lifted their target price on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. TD Securities initiated coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Up 1.2 %

TRP stock opened at $48.30 on Thursday. The company has a 50 day moving average price of $46.27 and a two-hundred day moving average price of $46.84. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The stock has a market capitalization of $50.19 billion, a P/E ratio of 14.91, a PEG ratio of 4.34 and a beta of 0.83. TC Energy Co. has a one year low of $34.95 and a one year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 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 quarter in the previous year, the business earned $1.35 EPS. As a group, sell-side analysts expect that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.04%. The ex-dividend date is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is 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.