TD Asset Management Inc. Grows Position in TC Energy Co. (NYSE:TRP)

TD Asset Management Inc. raised its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 16,437,150 shares of the pipeline company’s stock after purchasing an additional 344,485 shares during the period. TD Asset Management Inc.’s holdings in TC Energy were worth $765,627,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. NTV Asset Management LLC increased its holdings in TC Energy by 4.0% in the 4th quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock worth $288,000 after acquiring an additional 239 shares in the last quarter. Captrust Financial Advisors boosted its holdings in TC Energy by 1.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after buying an additional 242 shares during the period. Lee Financial Co increased its stake in TC Energy by 3.1% in the 4th quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock worth $381,000 after buying an additional 246 shares in the last quarter. IFP Advisors Inc raised its holdings in TC Energy by 7.0% during the fourth quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock valued at $177,000 after acquiring an additional 249 shares during the period. Finally, Prospera Financial Services Inc lifted its position in shares of TC Energy by 4.8% in the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock valued at $274,000 after acquiring an additional 262 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TRP. 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 research report on Tuesday, February 18th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. TD Securities began coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, StockNews.com lowered TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. 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 given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Price Performance

Shares of TC Energy stock opened at $49.28 on Tuesday. The stock has a 50 day moving average price of $46.40 and a 200-day moving average price of $46.89. TC Energy Co. has a one year low of $34.95 and a one year high of $50.37. The stock has a market cap of $51.20 billion, a price-to-earnings ratio of 15.21, 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 (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data 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 business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter in the previous year, the business posted $1.35 earnings per share. Equities analysts expect that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed 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 positive change from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date is Monday, March 31st. TC Energy’s dividend payout ratio 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.