TD Asset Management Inc. Purchases 344,485 Shares of TC Energy Co. (NYSE:TRP)

TD Asset Management Inc. lifted its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,437,150 shares of the pipeline company’s stock after buying an additional 344,485 shares during the period. TD Asset Management Inc. owned about 1.58% of TC Energy worth $765,627,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Addenda Capital Inc. grew its position in TC Energy by 4.4% during the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock worth $48,135,000 after acquiring an additional 43,639 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after purchasing an additional 242 shares during the period. Ritholtz Wealth Management grew its holdings in shares of TC Energy by 44.8% in the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock worth $1,115,000 after purchasing an additional 7,412 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of TC Energy in the third quarter worth $3,771,000. Finally, Exchange Traded Concepts LLC raised its holdings in TC Energy by 7.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,034,698 shares of the pipeline company’s stock valued at $48,144,000 after buying an additional 71,955 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 1.7 %

NYSE:TRP opened at $49.28 on Tuesday. The company has a market cap of $51.20 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The company has a 50 day simple moving average of $46.40 and a two-hundred day simple moving average of $46.89. TC Energy Co. has a 12 month low of $34.95 and a 12 month high of $50.37.

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

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.85 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 6.90%. TC Energy’s dividend payout ratio (DPR) is presently 72.53%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TRP shares. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. StockNews.com downgraded TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Royal Bank of Canada lifted their price target 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. Finally, TD Securities began coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating for the company. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

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.