Quaero Capital S.A. Invests $1.22 Million in TC Energy Co. (NYSE:TRP)

Quaero Capital S.A. bought a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,260 shares of the pipeline company’s stock, valued at approximately $1,222,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Addenda Capital Inc. increased its position 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 in the last quarter. Captrust Financial Advisors increased its position in TC Energy by 1.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after acquiring an additional 242 shares during the period. Ritholtz Wealth Management increased its position in 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 period. Public Employees Retirement System of Ohio acquired a new position in TC Energy in the 3rd quarter valued at about $3,771,000. Finally, Harvest Portfolios Group Inc. increased its position in TC Energy by 107.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after acquiring an additional 117,176 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of NYSE:TRP opened at $46.05 on Friday. The business’s 50 day simple moving average is $46.65 and its 200-day simple moving average is $46.49. The firm has a market capitalization of $47.85 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results 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 12.92% and a net margin of 31.15%. During the same quarter last year, the business posted $1.35 EPS. As a group, equities analysts forecast that TC Energy Co. will post 2.92 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 7.38%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is presently 63.43%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TRP shares. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. BMO Capital Markets boosted their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. StockNews.com assumed coverage on TC Energy in a report on Wednesday, December 4th. They issued a “hold” rating on the stock. Finally, TD Securities assumed coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, TC Energy has an average rating of “Hold” and an average target price of $56.00.

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.