Foundations Investment Advisors LLC Acquires 916 Shares of TC Energy Co. (NYSE:TRP)

Foundations Investment Advisors LLC boosted its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 11.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,844 shares of the pipeline company’s stock after acquiring an additional 916 shares during the period. Foundations Investment Advisors LLC’s holdings in TC Energy were worth $411,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Addenda Capital Inc. grew its stake in shares of TC Energy by 4.4% during the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock worth $48,135,000 after purchasing an additional 43,639 shares during the period. Captrust Financial Advisors grew its position in shares of TC Energy by 1.3% during the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after buying an additional 242 shares during the period. Ritholtz Wealth Management increased its stake in shares of TC Energy by 44.8% in the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock valued at $1,115,000 after acquiring an additional 7,412 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of TC Energy in the 3rd quarter valued at approximately $3,771,000. Finally, Harvest Portfolios Group Inc. boosted its stake in TC Energy by 107.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock worth $10,743,000 after acquiring an additional 117,176 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of TC Energy stock opened at $45.27 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The firm has a market cap of $47.04 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 4.45 and a beta of 0.82. The stock’s 50-day moving average is $47.19 and its 200-day moving average is $46.09. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. Equities analysts predict that TC Energy Co. will post 2.95 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.822 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 7.26%. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is 63.16%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Veritas raised shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. TD Securities initiated coverage on TC Energy in a report on Wednesday, January 15th. They set a “buy” rating on the stock. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Finally, BMO Capital Markets lifted their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and a consensus price target of $56.00.

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.