Wealth Alliance Has $881,000 Stake in TC Energy Co. (NYSE:TRP)

Wealth Alliance raised its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,531 shares of the pipeline company’s stock after buying an additional 304 shares during the period. Wealth Alliance’s holdings in TC Energy were worth $881,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Simplicity Solutions LLC grew its stake in shares of TC Energy by 1.2% during the fourth quarter. Simplicity Solutions LLC now owns 114,021 shares of the pipeline company’s stock valued at $4,458,000 after purchasing an additional 1,399 shares during the last quarter. Ingalls & Snyder LLC raised its holdings in TC Energy by 11.9% in the fourth quarter. Ingalls & Snyder LLC now owns 10,240 shares of the pipeline company’s stock worth $400,000 after purchasing an additional 1,090 shares during the period. Cerity Partners LLC acquired a new stake in TC Energy in the fourth quarter worth $456,000. Sequoia Financial Advisors LLC acquired a new stake in TC Energy in the fourth quarter worth $230,000. Finally, Miller Howard Investments Inc. NY raised its holdings in TC Energy by 3.8% in the fourth quarter. Miller Howard Investments Inc. NY now owns 523,434 shares of the pipeline company’s stock worth $20,461,000 after purchasing an additional 19,285 shares during the period. 83.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TRP. The Goldman Sachs Group raised their price objective on shares of TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a report on Friday, January 26th. Barclays raised their price objective on shares of TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Stifel Nicolaus began coverage on shares of TC Energy in a report on Thursday, January 18th. They set a “buy” rating on the stock. Jefferies Financial Group initiated coverage on shares of TC Energy in a report on Tuesday, February 27th. They set a “hold” rating on the stock. Finally, TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $48.83.

TC Energy Stock Performance

Shares of TRP opened at $35.18 on Wednesday. The firm has a 50-day moving average of $39.20 and a 200-day moving average of $37.98. TC Energy Co. has a one year low of $32.51 and a one year high of $42.49. The company has a market cap of $35.18 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 3.01 and a beta of 0.75. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. As a group, equities analysts forecast that TC Energy Co. will post 2.99 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a $0.714 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 8.12%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s dividend payout ratio (DPR) is 139.41%.

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.