38,863 Shares in TC Energy Corporation $TRP Acquired by Burney Co.

Burney Co. purchased a new stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 38,863 shares of the pipeline company’s stock, valued at approximately $2,115,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of TC Energy by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 45,907,306 shares of the pipeline company’s stock valued at $2,241,195,000 after acquiring an additional 1,509,328 shares during the period. Canada Pension Plan Investment Board increased its holdings in TC Energy by 5.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 20,986,748 shares of the pipeline company’s stock valued at $1,025,220,000 after purchasing an additional 1,178,190 shares in the last quarter. TD Asset Management Inc raised its position in TC Energy by 9.3% in the second quarter. TD Asset Management Inc now owns 19,074,181 shares of the pipeline company’s stock valued at $929,316,000 after purchasing an additional 1,618,441 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of TC Energy by 2,565.1% during the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock worth $769,815,000 after purchasing an additional 15,694,336 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of TC Energy by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 10,724,325 shares of the pipeline company’s stock worth $523,240,000 after buying an additional 738,012 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TRP has been the topic of several analyst reports. Citigroup reiterated a “neutral” rating on shares of TC Energy in a report on Thursday, November 20th. Cibc World Mkts lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. TD Securities restated a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. BMO Capital Markets raised shares of TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, November 7th. Finally, Wall Street Zen upgraded shares of TC Energy from a “sell” rating to a “hold” rating in a report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

TC Energy Stock Up 0.0%

Shares of NYSE:TRP opened at $55.83 on Friday. The firm has a market cap of $58.10 billion, a PE ratio of 24.06 and a beta of 0.70. The company has a fifty day simple moving average of $53.31 and a 200 day simple moving average of $51.37. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.60. TC Energy Corporation has a 12-month low of $43.51 and a 12-month high of $56.08.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $2.63 billion. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. During the same period last year, the business earned $1.03 EPS. On average, equities research analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a $0.85 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend is Wednesday, December 31st. TC Energy’s dividend payout ratio is presently 106.47%.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.