Checchi Capital Advisers LLC Acquires 699 Shares of TC Energy Co. (NYSE:TRP)

Checchi Capital Advisers LLC boosted its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 15.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,137 shares of the pipeline company’s stock after acquiring an additional 699 shares during the period. Checchi Capital Advisers LLC’s holdings in TC Energy were worth $239,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Blue Trust Inc. lifted its holdings in shares of 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. Private Advisor Group LLC raised its stake in TC Energy by 7.4% during the third quarter. Private Advisor Group LLC now owns 27,480 shares of the pipeline company’s stock valued at $1,307,000 after buying an additional 1,888 shares during the last quarter. International Assets Investment Management LLC purchased a new position in TC Energy during the third quarter valued at $3,034,000. Assenagon Asset Management S.A. boosted its holdings in TC Energy by 19.5% in the third quarter. Assenagon Asset Management S.A. now owns 32,312 shares of the pipeline company’s stock worth $1,538,000 after acquiring an additional 5,275 shares in the last quarter. Finally, PFG Investments LLC purchased a new stake in shares of TC Energy in the third quarter worth $239,000. Institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TRP shares. TD Securities assumed coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada raised their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. StockNews.com raised TC Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Price Performance

NYSE:TRP opened at $44.36 on Friday. The business’s 50-day moving average is $46.38 and its 200 day moving average is $46.66. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37. The company has a market capitalization of $46.10 billion, a P/E ratio of 13.69, a P/E/G ratio of 4.34 and a beta of 0.81. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share (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 business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the prior year, the firm earned $1.35 EPS. On average, equities research analysts forecast that TC Energy Co. will post 2.63 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 Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 7.66%. This is a boost from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s dividend payout ratio is currently 71.91%.

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.