Jackson Square Capital LLC Makes New Investment in TC Energy Co. (NYSE:TRP)

Jackson Square Capital LLC purchased a new position in TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 16,635 shares of the pipeline company’s stock, valued at approximately $775,000.

Other institutional investors have also added to or reduced their stakes in the company. Intech Investment Management LLC increased its stake in shares of TC Energy by 14.3% in the second quarter. Intech Investment Management LLC now owns 32,936 shares of the pipeline company’s stock worth $1,248,000 after purchasing an additional 4,127 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of TC Energy by 4.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 15,708 shares of the pipeline company’s stock worth $596,000 after purchasing an additional 703 shares in the last quarter. AE Wealth Management LLC increased its stake in shares of TC Energy by 9.4% in the second quarter. AE Wealth Management LLC now owns 8,550 shares of the pipeline company’s stock worth $324,000 after purchasing an additional 738 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in shares of TC Energy by 650.5% in the second quarter. Westwood Holdings Group Inc. now owns 1,526,365 shares of the pipeline company’s stock worth $57,849,000 after purchasing an additional 1,322,976 shares in the last quarter. Finally, Ensign Peak Advisors Inc increased its stake in shares of TC Energy by 3.4% in the second quarter. Ensign Peak Advisors Inc now owns 67,607 shares of the pipeline company’s stock worth $2,656,000 after purchasing an additional 2,200 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. The Goldman Sachs Group raised their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. StockNews.com assumed coverage on shares of TC Energy in a research note on Wednesday, December 4th. They set a “hold” rating for the company. Veritas raised shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. 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 company’s stock. According to data from MarketBeat, TC Energy presently has an average rating of “Hold” and a consensus target price of $55.67.

TC Energy Stock Performance

Shares of NYSE:TRP opened at $47.39 on Friday. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The stock has a market capitalization of $49.23 billion, a P/E ratio of 13.13, a PEG ratio of 4.31 and a beta of 0.82. The firm has a fifty day simple moving average of $47.59 and a two-hundred day simple moving average of $45.56. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78.

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, topping 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 business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. On average, analysts expect that TC Energy Co. will post 2.95 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.822 dividend. This represents a $3.29 annualized dividend and a dividend yield of 6.94%. The ex-dividend date is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is 63.43%.

About TC Energy

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.