52,453 Shares in TC Energy Co. (NYSE:TRP) Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 52,453 shares of the pipeline company’s stock, valued at approximately $2,050,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TRP. Norges Bank purchased a new stake in shares of TC Energy in the 4th quarter valued at about $519,894,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of TC Energy by 70.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock valued at $569,058,000 after acquiring an additional 6,840,000 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of TC Energy by 18.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company’s stock valued at $849,037,000 after acquiring an additional 3,740,495 shares in the last quarter. Blackstone Inc. raised its holdings in shares of TC Energy by 540.4% in the 3rd quarter. Blackstone Inc. now owns 3,117,031 shares of the pipeline company’s stock valued at $107,257,000 after acquiring an additional 2,630,324 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of TC Energy by 42.5% in the 3rd quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock valued at $234,719,000 after acquiring an additional 2,034,846 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of TC Energy stock opened at $35.68 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88. The business’s 50 day simple moving average is $39.06 and its two-hundred day simple moving average is $37.95. The stock has a market capitalization of $35.68 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 2.94 and a beta of 0.75. TC Energy Co. has a one year low of $32.51 and a one year high of $42.49.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Analysts forecast that TC Energy Co. will post 2.98 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.714 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 annualized dividend and a dividend yield of 8.00%. TC Energy’s payout ratio is 139.41%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Jefferies Financial Group began coverage on TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating on the stock. Barclays increased their price objective on TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Stifel Nicolaus began coverage on TC Energy in a research report on Thursday, January 18th. They set a “buy” rating on the stock. The Goldman Sachs Group increased their price objective on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, January 26th. Finally, TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $48.83.

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.