TC Energy Co. (NYSE:TRP) Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC grew its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,718 shares of the pipeline company’s stock after purchasing an additional 2,342 shares during the quarter. Corient Private Wealth LLC’s holdings in TC Energy were worth $1,522,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in TC Energy during the 4th quarter valued at $31,000. Versant Capital Management Inc purchased a new stake in shares of TC Energy in the fourth quarter valued at $33,000. Synergy Investment Management LLC acquired a new stake in shares of TC Energy during the fourth quarter valued at $36,000. Point72 DIFC Ltd purchased a new stake in TC Energy during the 3rd quarter worth about $39,000. Finally, First Command Advisory Services Inc. acquired a new position in TC Energy in the 4th quarter valued at about $46,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

Shares of TC Energy stock opened at $48.89 on Wednesday. The business’s fifty day moving average price is $46.45 and its 200 day moving average price is $46.91. TC Energy Co. has a twelve month low of $34.95 and a twelve month high of $50.37. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $50.80 billion, a P/E ratio of 15.09, a PEG ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.54. The business 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 12.12% and a net margin of 29.40%. During the same period in the previous year, the company posted $1.35 EPS. As a group, research 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.85 per share. 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 6.95%. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s payout ratio is currently 72.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TRP shares. StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Veritas raised 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 increased their price target on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. TD Securities assumed coverage on TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

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.