Plato Investment Management Ltd Invests $200,000 in TC Energy Co. (NYSE:TRP)

Plato Investment Management Ltd bought a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 4,287 shares of the pipeline company’s stock, valued at approximately $200,000.

A number of other large investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in TC Energy during the 4th quarter worth approximately $31,000. Versant Capital Management Inc acquired a new stake in shares of TC Energy in the fourth quarter worth $33,000. Point72 DIFC Ltd purchased a new position in shares of TC Energy during the third quarter worth $39,000. First Command Advisory Services Inc. acquired a new position in TC Energy during the fourth quarter valued at $46,000. Finally, Rogco LP boosted its holdings in TC Energy by 100.0% in the fourth quarter. Rogco LP now owns 1,000 shares of the pipeline company’s stock valued at $47,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TRP. Royal Bank of Canada lifted their price objective on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. BMO Capital Markets lifted 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 raised shares of TC Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, TD Securities assumed coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, TC Energy has an average rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Price Performance

Shares of TRP opened at $45.04 on Wednesday. The firm has a 50-day simple moving average of $46.30 and a two-hundred day simple moving average of $46.72. The stock has a market cap of $46.81 billion, a PE ratio of 13.90, a P/E/G ratio of 4.34 and a beta of 0.81. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23.

TC Energy (NYSE:TRP) (TSE:TRP) last released 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. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period last year, the business posted $1.35 earnings per share. As a group, analysts forecast that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.85 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a yield of 7.55%. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s payout ratio is currently 71.91%.

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.