The Manufacturers Life Insurance Company Buys 285,783 Shares of TC Energy Co. (NYSE:TRP)

The Manufacturers Life Insurance Company raised its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 10.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,952,435 shares of the pipeline company’s stock after purchasing an additional 285,783 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.28% of TC Energy worth $137,758,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TRP. SBI Securities Co. Ltd. bought a new stake in TC Energy in the 4th quarter valued at $31,000. Versant Capital Management Inc bought a new position in shares of TC Energy during the 4th quarter worth about $33,000. Synergy Investment Management LLC acquired a new stake in shares of TC Energy during the 4th quarter valued at about $36,000. Millstone Evans Group LLC acquired a new stake in shares of TC Energy during the 4th quarter valued at about $41,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of TC Energy during the 4th quarter valued at about $46,000. 83.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Citigroup assumed coverage on shares of TC Energy in a research report on Friday, April 4th. They set a “neutral” rating on the stock. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. TD Securities assumed coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada lifted their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, TC Energy has a consensus rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Trading Up 1.2 %

Shares of TRP stock opened at $50.22 on Tuesday. TC Energy Co. has a 12-month low of $35.38 and a 12-month high of $50.37. The company has a market capitalization of $52.21 billion, a P/E ratio of 15.50, a P/E/G ratio of 4.34 and a beta of 0.74. The firm has a 50-day moving average price of $47.12 and a 200 day moving average price of $47.21. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping 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 company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the previous year, the firm posted $1.35 earnings per share. Research analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current fiscal 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 paid a $0.85 dividend. The ex-dividend date is Monday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a dividend yield of 6.77%. TC Energy’s payout ratio is currently 72.84%.

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.