Lee Financial Co Invests $915,000 in TC Energy Corporation $TRP

Lee Financial Co purchased a new stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 16,814 shares of the pipeline company’s stock, valued at approximately $915,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its position in TC Energy by 54.0% during the first quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock valued at $538,000 after purchasing an additional 3,892 shares during the period. Focus Partners Wealth increased its position in shares of TC Energy by 46.1% during the 1st quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock valued at $588,000 after purchasing an additional 3,929 shares during the last quarter. Intech Investment Management LLC increased its position in shares of TC Energy by 200.7% during the 1st quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock valued at $1,269,000 after purchasing an additional 17,939 shares during the last quarter. ASR Vermogensbeheer N.V. raised its holdings in TC Energy by 8.4% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 61,839 shares of the pipeline company’s stock valued at $3,013,000 after buying an additional 4,815 shares during the period. Finally, Hilltop National Bank bought a new stake in TC Energy in the second quarter worth $32,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

TRP has been the topic of several recent analyst reports. Cibc World Mkts downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Royal Bank Of Canada increased their price objective on shares of TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Weiss Ratings restated a “buy (b-)” rating on shares of TC Energy in a research report on Monday, December 29th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Finally, Cibc Captl Mkts raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, TC Energy currently has an average rating of “Moderate Buy” and a consensus target price of $84.00.

TC Energy Stock Down 1.0%

Shares of NYSE:TRP opened at $58.65 on Friday. The business’s 50 day moving average is $54.91 and its 200 day moving average is $52.65. The stock has a market cap of $61.04 billion, a P/E ratio of 25.28 and a beta of 0.72. TC Energy Corporation has a 52-week low of $43.51 and a 52-week high of $59.44. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 1.60.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $2.63 billion. TC Energy had a return on equity of 10.61% and a net margin of 23.86%.During the same period in the prior year, the business earned $1.03 EPS. Sell-side analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.85 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $3.40 dividend on an annualized basis and a yield of 5.8%. TC Energy’s payout ratio is 106.90%.

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.