Prospera Financial Services Inc Increases Stock Holdings in TC Energy Co. (NYSE:TRP)

Prospera Financial Services Inc raised its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,754 shares of the pipeline company’s stock after acquiring an additional 262 shares during the quarter. Prospera Financial Services Inc’s holdings in TC Energy were worth $274,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Canada Pension Plan Investment Board boosted its stake in shares of TC Energy by 107.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after buying an additional 10,065,000 shares during the period. Legal & General Group Plc grew its holdings in TC Energy by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock worth $450,749,000 after acquiring an additional 467,497 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of TC Energy by 2.6% in the 2nd quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock valued at $322,584,000 after purchasing an additional 214,689 shares during the last quarter. Cardinal Capital Management Inc. raised its holdings in shares of TC Energy by 101.4% in the 2nd quarter. Cardinal Capital Management Inc. now owns 5,068,758 shares of the pipeline company’s stock valued at $192,024,000 after purchasing an additional 2,551,926 shares in the last quarter. Finally, Thornburg Investment Management Inc. lifted its position in shares of TC Energy by 42.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 3,590,617 shares of the pipeline company’s stock worth $136,148,000 after purchasing an additional 1,062,805 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Price Performance

TRP stock opened at $49.07 on Tuesday. The company has a market cap of $50.93 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 4.19 and a beta of 0.81. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The firm has a 50 day moving average of $47.27 and a 200-day moving average of $43.34. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. As a group, equities analysts expect that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.70%. TC Energy’s payout ratio is 78.95%.

Wall Street Analysts Forecast Growth

TRP has been the topic of several recent analyst reports. BMO Capital Markets increased their target price on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. StockNews.com began coverage on TC Energy in a report on Tuesday. They issued a “hold” rating for the company. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Finally, Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and an average target price of $55.67.

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.