First Bank & Trust Raises Stock Holdings in TC Energy Co. (NYSE:TRP)

First Bank & Trust raised its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,396 shares of the pipeline company’s stock after buying an additional 347 shares during the quarter. First Bank & Trust’s holdings in TC Energy were worth $2,717,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in shares of TC Energy in the 3rd quarter worth approximately $28,000. Blue Trust Inc. lifted its stake in 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 in the last quarter. Versant Capital Management Inc acquired a new position in TC Energy during the fourth quarter worth $33,000. Point72 DIFC Ltd purchased a new position in shares of TC Energy during the third quarter worth $39,000. Finally, UMB Bank n.a. acquired a new stake in shares of TC Energy in the fourth quarter valued at $47,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Down 1.1 %

Shares of NYSE:TRP opened at $45.89 on Thursday. The company has a market cap of $47.68 billion, a PE ratio of 14.16, a P/E/G ratio of 4.43 and a beta of 0.81. The company’s 50 day moving average is $46.53 and its two-hundred day moving average is $46.62. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.51 by $0.54. The firm 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 11.95% and a net margin of 29.40%. During the same quarter in the prior year, the company posted $1.35 earnings per share. Equities analysts predict that TC Energy Co. will post 2.62 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.85 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 7.41%. TC Energy’s payout ratio is presently 70.68%.

Analysts Set New Price Targets

A number of equities analysts recently commented on TRP shares. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Royal Bank of Canada raised their price objective on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday. BMO Capital Markets upped their target price on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. TD Securities assumed coverage on shares of TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, TC Energy has an average rating of “Hold” 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.