TC Energy Co. (NYSE:TRP) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. grew its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,323 shares of the pipeline company’s stock after purchasing an additional 704 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in TC Energy were worth $3,041,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRP. Oppenheimer Asset Management Inc. acquired a new stake in TC Energy during the 3rd quarter worth $215,000. Natixis Advisors LLC increased its position in shares of TC Energy by 10.9% during the third quarter. Natixis Advisors LLC now owns 49,438 shares of the pipeline company’s stock worth $2,351,000 after purchasing an additional 4,877 shares in the last quarter. Thrivent Financial for Lutherans acquired a new stake in shares of TC Energy during the third quarter worth about $236,000. Prospera Financial Services Inc lifted its holdings in shares of TC Energy by 4.8% in the 3rd quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock valued at $274,000 after purchasing an additional 262 shares during the last quarter. Finally, West Family Investments Inc. acquired a new stake in shares of TC Energy in the 3rd quarter valued at about $216,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. TD Securities assumed coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada lifted their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Finally, BMO Capital Markets upped their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Stock Performance

Shares of TRP opened at $48.30 on Thursday. TC Energy Co. has a 1 year low of $34.95 and a 1 year high of $50.37. The stock has a market capitalization of $50.19 billion, a P/E ratio of 14.91, a P/E/G ratio of 4.34 and a beta of 0.83. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The company’s fifty day moving average is $46.27 and its two-hundred day moving average is $46.84.

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

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.85 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 7.04%. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s dividend payout ratio (DPR) is currently 72.53%.

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.