Lee Financial Co Purchases 246 Shares of TC Energy Co. (NYSE:TRP)

Lee Financial Co increased its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,185 shares of the pipeline company’s stock after buying an additional 246 shares during the period. Lee Financial Co’s holdings in TC Energy were worth $381,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Addenda Capital Inc. raised its holdings in shares of TC Energy by 4.4% in the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock valued at $48,135,000 after purchasing an additional 43,639 shares during the last quarter. Captrust Financial Advisors increased its position in shares of TC Energy by 1.3% in the third 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 last quarter. Ritholtz Wealth Management raised its holdings in TC Energy by 44.8% during the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock worth $1,115,000 after acquiring an additional 7,412 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in TC Energy during the third quarter valued at approximately $3,771,000. Finally, Harvest Portfolios Group Inc. grew its stake in TC Energy by 107.7% in the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after purchasing an additional 117,176 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TRP shares. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. StockNews.com initiated coverage on shares of TC Energy in a research note on Wednesday, December 4th. They set a “hold” rating on the stock. BMO Capital Markets upped their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. The Goldman Sachs Group lifted their price target on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. Finally, US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $56.00.

TC Energy Stock Down 2.8 %

TC Energy stock opened at $46.05 on Friday. The company’s 50-day moving average price is $46.61 and its two-hundred day moving average price is $46.52. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The stock has a market cap of $47.85 billion, a P/E ratio of 12.76, a P/E/G ratio of 4.45 and a beta of 0.81. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. During the same quarter last year, the company earned $1.35 earnings per share. As a group, analysts expect that TC Energy Co. will post 2.92 EPS for the current 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 $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.38%. This is a boost from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is presently 63.43%.

TC Energy 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.