Sequoia Financial Advisors LLC Acquires 526 Shares of TC Energy Co. (NYSE:TRP)

Sequoia Financial Advisors LLC lifted its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,177 shares of the pipeline company’s stock after buying an additional 526 shares during the period. Sequoia Financial Advisors LLC’s holdings in TC Energy were worth $474,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of TC Energy by 32.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 43,392 shares of the pipeline company’s stock worth $2,063,000 after acquiring an additional 10,637 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in TC Energy in the 3rd quarter worth approximately $215,000. Natixis Advisors LLC raised its stake in TC Energy by 10.9% during the 3rd quarter. Natixis Advisors LLC now owns 49,438 shares of the pipeline company’s stock valued at $2,351,000 after buying an additional 4,877 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in shares of TC Energy during the 3rd quarter valued at $236,000. Finally, Prospera Financial Services Inc grew its holdings in shares of TC Energy by 4.8% in the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock worth $274,000 after acquiring an additional 262 shares during the period. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Performance

NYSE:TRP opened at $47.72 on Wednesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The stock’s fifty day moving average is $46.26 and its 200 day moving average is $46.83. The firm has a market capitalization of $49.59 billion, a PE ratio of 14.73, a PEG ratio of 4.34 and a beta of 0.83. TC Energy Co. has a fifty-two week low of $34.95 and a fifty-two week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results 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. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter last year, the business earned $1.35 EPS. On average, sell-side analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm 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 dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 7.12%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is 72.53%.

Wall Street Analyst Weigh In

TRP has been the topic of several research reports. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. 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. StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Royal Bank of Canada raised their target price on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.00.

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.