Parsons Capital Management Inc. RI Invests $236,000 in TC Energy Co. (NYSE:TRP)

Parsons Capital Management Inc. RI acquired a new stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) in the fourth quarter, HoldingsChannel reports. The firm acquired 5,075 shares of the pipeline company’s stock, valued at approximately $236,000.

Several other hedge funds also recently bought and sold shares of TRP. Mount Yale Investment Advisors LLC boosted its stake in shares of TC Energy by 3.7% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 20,657 shares of the pipeline company’s stock valued at $961,000 after purchasing an additional 739 shares during the period. Blue Trust Inc. lifted its holdings in TC Energy by 111.1% during the 4th quarter. Blue Trust Inc. now owns 1,347 shares of the pipeline company’s stock valued at $64,000 after buying an additional 709 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in TC Energy in the 4th quarter valued at about $389,000. Lantz Financial LLC grew its stake in TC Energy by 4.0% in the 4th quarter. Lantz Financial LLC now owns 8,048 shares of the pipeline company’s stock worth $374,000 after acquiring an additional 312 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of TC Energy by 16.6% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,416,324 shares of the pipeline company’s stock worth $65,902,000 after acquiring an additional 202,059 shares during the period. Institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. BMO Capital Markets increased their price objective 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 TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. StockNews.com started coverage on shares of TC Energy in a report on Wednesday, December 4th. They set a “hold” rating on the stock. 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. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to MarketBeat, TC Energy presently has a consensus rating of “Hold” and an average target price of $55.67.

TC Energy Stock Performance

Shares of TC Energy stock opened at $45.34 on Wednesday. The company has a market capitalization of $47.11 billion, a PE ratio of 12.56, a P/E/G ratio of 4.45 and a beta of 0.82. The company has a 50-day simple moving average of $47.35 and a two-hundred day simple moving average of $46.05. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. Research analysts expect that TC Energy Co. will post 2.95 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. This represents a $3.29 annualized dividend and a dividend yield of 7.25%. The ex-dividend date of this dividend 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 is currently 63.43%.

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.