Raymond James Financial Inc. Purchases Shares of 1,621,838 TC Energy Co. (NYSE:TRP)

Raymond James Financial Inc. purchased a new stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,621,838 shares of the pipeline company’s stock, valued at approximately $75,464,000. Raymond James Financial Inc. owned about 0.16% of TC Energy as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. NTV Asset Management LLC grew its holdings in TC Energy by 4.0% during the fourth quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock valued at $288,000 after purchasing an additional 239 shares during the last quarter. Captrust Financial Advisors grew its holdings in TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after purchasing an additional 242 shares during the last quarter. Lee Financial Co grew its holdings in TC Energy by 3.1% during the fourth quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock valued at $381,000 after purchasing an additional 246 shares during the last quarter. IFP Advisors Inc grew its holdings in TC Energy by 7.0% during the fourth quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock valued at $177,000 after purchasing an additional 249 shares during the last quarter. Finally, Prospera Financial Services Inc grew its holdings in TC Energy by 4.8% during the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock valued at $274,000 after purchasing an additional 262 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

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

TC Energy Trading Up 0.8 %

Shares of TC Energy stock opened at $45.86 on Monday. The firm has a market capitalization of $47.66 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The company’s fifty day moving average price is $46.28 and its two-hundred day moving average price is $46.75. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (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 net margin of 29.40% and a return on equity of 12.12%. During the same quarter in the previous year, the firm posted $1.35 EPS. On average, analysts expect that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 7.41%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is 72.53%.

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.