Geode Capital Management LLC Raises Holdings in TC Energy Co. (NYSE:TRP)

Geode Capital Management LLC increased its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 30.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,156,772 shares of the pipeline company’s stock after buying an additional 1,444,112 shares during the period. Geode Capital Management LLC owned about 0.59% of TC Energy worth $290,757,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of TRP. SBI Securities Co. Ltd. bought a new position in shares of TC Energy in the 4th quarter worth $31,000. Versant Capital Management Inc purchased a new position in TC Energy in the fourth quarter valued at about $33,000. Synergy Investment Management LLC bought a new position in TC Energy in the fourth quarter worth about $36,000. Point72 DIFC Ltd purchased a new stake in shares of TC Energy during the third quarter valued at about $39,000. Finally, Millstone Evans Group LLC bought a new stake in shares of TC Energy in the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on TRP shares. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Royal Bank of Canada upped 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 assumed coverage on TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. StockNews.com cut TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Down 5.4 %

Shares of TRP stock opened at $46.07 on Friday. 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 Co. has a fifty-two week low of $34.95 and a fifty-two week high of $50.37. The firm has a market capitalization of $47.88 billion, a PE ratio of 14.22, a P/E/G ratio of 4.34 and a beta of 0.74. The stock’s 50-day simple moving average is $46.57 and its 200-day simple moving average is $46.99.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. The company had revenue of $2.56 billion during 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 period last year, the firm posted $1.35 EPS. Equities analysts expect that TC Energy Co. will post 2.63 earnings per share for the current 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 given a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a yield of 7.38%. TC Energy’s payout ratio is currently 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.