TC Energy Co. (NYSE:TRP) Stake Lifted by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC increased its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 105.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,273 shares of the pipeline company’s stock after acquiring an additional 59,719 shares during the period. TC Energy makes up approximately 0.7% of Infrastructure Capital Advisors LLC’s investment portfolio, making the stock its 27th biggest position. Infrastructure Capital Advisors LLC’s holdings in TC Energy were worth $5,529,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TRP. Signaturefd LLC lifted its stake in TC Energy by 1.6% during the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock valued at $621,000 after purchasing an additional 261 shares during the last quarter. Prospera Financial Services Inc lifted its stake in TC Energy by 4.8% during the third 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. First Horizon Advisors Inc. lifted its stake in TC Energy by 8.1% during the third quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock valued at $167,000 after purchasing an additional 264 shares during the last quarter. Blue Trust Inc. lifted its stake in TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its stake in TC Energy by 4.5% during the third quarter. Mesirow Financial Investment Management Inc. now owns 9,175 shares of the pipeline company’s stock valued at $436,000 after purchasing an additional 393 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TRP has been the subject of several recent research reports. The Goldman Sachs Group increased 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. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, BMO Capital Markets upped their price target on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, TC Energy currently has an average rating of “Hold” and an average price target of $55.67.

TC Energy Stock Down 0.7 %

TRP stock opened at $48.41 on Friday. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The company has a market cap of $50.25 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 4.03 and a beta of 0.81. The company has a 50 day moving average of $47.43 and a two-hundred day moving average of $43.48.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. On average, equities analysts anticipate that TC Energy Co. will post 3 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 6.79%. TC Energy’s dividend payout ratio is 78.95%.

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.