Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in TC Energy Co. (NYSE:TRP)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 315,427 shares of the pipeline company’s stock after purchasing an additional 13,832 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in TC Energy were worth $15,011,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new position in shares of TC Energy in the second quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. grew its stake in TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 429 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in TC Energy in the 3rd quarter valued at about $28,000. Blue Trust Inc. lifted its stake in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in shares of TC Energy during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Up 1.1 %

Shares of TRP opened at $48.93 on Friday. The company’s 50-day moving average price is $47.49 and its 200 day moving average price is $43.58. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37. 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 market cap of $50.79 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 4.03 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, sell-side analysts forecast that TC Energy Co. will post 3 earnings per share for the current 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 given a dividend of $0.822 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a dividend yield of 6.72%. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is currently 78.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TRP shares. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. BMO Capital Markets raised their target price on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Finally, The Goldman Sachs Group lifted their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TC Energy has an average rating of “Hold” and an average price target 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.