Premier Fund Managers Ltd Purchases 18,000 Shares of TC Energy Co. (NYSE:TRP)

Premier Fund Managers Ltd grew its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 56.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,000 shares of the pipeline company’s stock after acquiring an additional 18,000 shares during the quarter. Premier Fund Managers Ltd’s holdings in TC Energy were worth $2,330,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TRP. SBI Securities Co. Ltd. bought a new position in TC Energy in the fourth quarter valued at $31,000. Versant Capital Management Inc acquired a new position in shares of TC Energy during the 4th quarter worth about $33,000. Synergy Investment Management LLC bought a new position in shares of TC Energy in the 4th quarter valued at about $36,000. Point72 DIFC Ltd acquired a new stake in shares of TC Energy in the third quarter valued at about $39,000. Finally, Millstone Evans Group LLC bought a new stake in TC Energy during the fourth quarter worth about $41,000. 83.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TRP. Royal Bank of Canada boosted their price target on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. TD Securities started coverage on TC Energy in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Down 0.4 %

TRP opened at $48.27 on Friday. The stock has a fifty day moving average of $46.53 and a 200-day moving average of $46.93. The company has a market capitalization of $50.16 billion, a P/E ratio of 14.90, a P/E/G ratio of 4.34 and a beta of 0.83. TC Energy Co. has a fifty-two week low of $34.95 and a fifty-two week high of $50.37. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the previous year, the company earned $1.35 EPS. On average, equities analysts expect that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 7.04%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is 72.53%.

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.