Premier Fund Managers Ltd Has $2.33 Million Position in TC Energy Co. (NYSE:TRP)

Premier Fund Managers Ltd increased its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 56.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 50,000 shares of the pipeline company’s stock after purchasing an additional 18,000 shares during the period. Premier Fund Managers Ltd’s holdings in TC Energy were worth $2,330,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TRP. Addenda Capital Inc. boosted its holdings in shares of TC Energy by 4.4% in the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock valued at $48,135,000 after purchasing an additional 43,639 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of TC Energy by 1.3% during 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 last quarter. Ritholtz Wealth Management boosted its stake in TC Energy by 44.8% in the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock valued at $1,115,000 after buying an additional 7,412 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in TC Energy in the third quarter valued at about $3,771,000. Finally, Exchange Traded Concepts LLC raised its stake in TC Energy by 7.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,034,698 shares of the pipeline company’s stock worth $48,144,000 after acquiring an additional 71,955 shares in the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Performance

Shares of TC Energy stock opened at $48.27 on Friday. The company has a market cap of $50.16 billion, a P/E ratio of 14.90, a PEG ratio of 4.34 and a beta of 0.83. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The business has a 50-day moving average price of $46.53 and a two-hundred day moving average price of $46.93. TC Energy Co. has a 1-year low of $34.95 and a 1-year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly 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 firm had revenue of $2.56 billion for the quarter, compared to analyst estimates 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 previous year, the firm earned $1.35 earnings per share. As a group, analysts anticipate 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 paid a $0.85 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a yield of 7.04%. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s payout ratio is 72.53%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TRP. Royal Bank of Canada upped 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. TD Securities initiated coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. StockNews.com lowered TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Finally, US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

About TC Energy

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.