Raymond James Trust N.A. Acquires 1,621 Shares of TC Energy Co. (NYSE:TRP)

Raymond James Trust N.A. increased its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,283 shares of the pipeline company’s stock after acquiring an additional 1,621 shares during the quarter. Raymond James Trust N.A.’s holdings in TC Energy were worth $1,440,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Cetera Investment Advisers grew its position in TC Energy by 74.1% during the first quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock valued at $3,972,000 after buying an additional 42,024 shares during the period. CIBC Asset Management Inc increased its holdings in TC Energy by 2.6% during the 2nd quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock worth $322,584,000 after acquiring an additional 214,689 shares during the period. Harvest Portfolios Group Inc. boosted its holdings in TC Energy by 107.7% in the 3rd 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 during the period. Metis Global Partners LLC grew its position in shares of TC Energy by 16.3% during the 3rd quarter. Metis Global Partners LLC now owns 95,470 shares of the pipeline company’s stock valued at $4,538,000 after purchasing an additional 13,368 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of TC Energy by 4.1% in the second quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock worth $450,749,000 after purchasing an additional 467,497 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Down 0.8 %

TRP stock opened at $49.85 on Friday. The company has a market capitalization of $51.74 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 4.22 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37. The company’s 50 day moving average price is $47.22 and its two-hundred day moving average price is $43.22.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. As a group, analysts predict that TC Energy Co. will post 2.98 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.60%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is 67.31%.

Analyst Ratings Changes

Several research firms recently commented on TRP. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. The Goldman Sachs Group upped their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. BMO Capital Markets lifted their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Finally, Veritas raised shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $55.67.

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.