Natixis Advisors LLC Grows Stock Position in TC Energy Co. (NYSE:TRP)

Natixis Advisors LLC grew its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 40.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,520 shares of the pipeline company’s stock after buying an additional 20,082 shares during the period. Natixis Advisors LLC’s holdings in TC Energy were worth $3,235,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in TC Energy by 6.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,175,940 shares of the pipeline company’s stock valued at $333,993,000 after purchasing an additional 405,965 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of TC Energy by 8.4% during the 4th quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company’s stock valued at $331,863,000 after buying an additional 551,980 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its holdings in TC Energy by 51.4% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company’s stock worth $225,310,000 after buying an additional 1,644,115 shares during the period. Geode Capital Management LLC grew its stake in TC Energy by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock valued at $225,890,000 after buying an additional 360,548 shares in the last quarter. Finally, Merewether Investment Management LP raised its holdings in TC Energy by 37.9% during the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock valued at $194,776,000 after acquiring an additional 1,127,000 shares during the period. Institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. StockNews.com lowered TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. TD Securities started coverage on TC Energy in a report on Wednesday, January 15th. They set a “buy” rating for the company. Royal Bank of Canada upped their price target on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Price Performance

TRP stock opened at $48.45 on Friday. The firm has a 50 day simple moving average of $46.33 and a two-hundred day simple moving average of $46.87. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The stock has a market cap of $50.34 billion, a PE ratio of 14.95, a P/E/G ratio of 4.34 and a beta of 0.83. TC Energy Co. has a one year low of $34.95 and a one year 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 (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period in the previous year, the business earned $1.35 earnings per share. On average, analysts predict that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.02%. This is a boost from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. TC Energy’s dividend payout ratio (DPR) is currently 72.53%.

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.