Exchange Traded Concepts LLC Buys 71,955 Shares of TC Energy Co. (NYSE:TRP)

Exchange Traded Concepts LLC lifted its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 7.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,034,698 shares of the pipeline company’s stock after buying an additional 71,955 shares during the quarter. TC Energy comprises about 1.0% of Exchange Traded Concepts LLC’s investment portfolio, making the stock its 15th biggest position. Exchange Traded Concepts LLC’s holdings in TC Energy were worth $48,144,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in shares of TC Energy during the third quarter worth approximately $28,000. Blue Trust Inc. increased its holdings in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 shares during the period. Versant Capital Management Inc acquired a new stake in shares of TC Energy in the fourth quarter valued at approximately $33,000. Point72 DIFC Ltd bought a new stake in shares of TC Energy in the third quarter valued at approximately $39,000. Finally, UMB Bank n.a. acquired a new stake in TC Energy during the fourth quarter worth approximately $47,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TRP shares. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Veritas raised shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. StockNews.com began coverage on TC Energy in a research note on Wednesday, December 4th. They set a “hold” rating for the company. TD Securities initiated coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, BMO Capital Markets increased their price objective on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. 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 MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $55.67.

TC Energy Trading Down 0.2 %

TRP opened at $47.02 on Friday. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The firm has a market capitalization of $48.86 billion, a PE ratio of 13.02, a P/E/G ratio of 4.45 and a beta of 0.82. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The company’s 50-day moving average is $47.50 and its 200 day moving average is $45.81.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. As a group, research analysts predict that TC Energy Co. will post 2.95 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 annualized dividend and a yield of 6.99%. TC Energy’s dividend payout ratio (DPR) is currently 63.43%.

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.