Candriam S.C.A. Grows Position in TC Energy Co. (NYSE:TRP)

Candriam S.C.A. lifted its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 16.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,088 shares of the pipeline company’s stock after buying an additional 1,295 shares during the period. Candriam S.C.A.’s holdings in TC Energy were worth $423,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Addenda Capital Inc. raised its holdings in shares of TC Energy by 4.4% during the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock valued at $48,135,000 after buying an additional 43,639 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of TC Energy by 1.3% during the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after buying an additional 242 shares in the last quarter. Ritholtz Wealth Management raised its holdings in shares of TC Energy by 44.8% during the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock valued at $1,115,000 after buying an additional 7,412 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of TC Energy during the 3rd quarter valued at about $3,771,000. Finally, Exchange Traded Concepts LLC raised its holdings in shares of TC Energy by 7.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,034,698 shares of the pipeline company’s stock valued at $48,144,000 after buying an additional 71,955 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

Shares of TRP stock opened at $46.18 on Tuesday. The firm has a market cap of $47.99 billion, a P/E ratio of 14.25, a P/E/G ratio of 4.34 and a beta of 0.83. TC Energy Co. has a fifty-two week low of $34.95 and a fifty-two week high of $50.37. The business’s 50 day moving average price is $46.27 and its 200-day moving average price is $46.77. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 12.12% and a net margin of 29.40%. During the same period last year, the company earned $1.35 EPS. On average, equities research analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.85 per share. The ex-dividend date is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 7.36%. TC Energy’s payout ratio is currently 72.53%.

Wall Street Analysts Forecast Growth

TRP has been the topic of several recent research reports. StockNews.com lowered TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Royal Bank of Canada raised their price target on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. TD Securities initiated coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TC Energy currently has an average rating of “Moderate Buy” and a consensus price target 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.