Midwest Professional Planners LTD. Invests $340,000 in TC Energy Co. (NYSE:TRP)

Midwest Professional Planners LTD. bought a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,313 shares of the pipeline company’s stock, valued at approximately $340,000.

Several other institutional investors and hedge funds have also made changes to their positions in TRP. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of TC Energy by 156.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after purchasing an additional 4,126,801 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its stake in shares of TC Energy by 51.4% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company’s stock valued at $225,310,000 after buying an additional 1,644,115 shares during the period. Raymond James Financial Inc. purchased a new position in shares of TC Energy during the fourth quarter valued at $75,464,000. Zurich Insurance Group Ltd FI purchased a new position in shares of TC Energy during the third quarter valued at $73,162,000. Finally, Merewether Investment Management LP increased its stake in shares of TC Energy by 37.9% during the third quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock valued at $194,776,000 after buying an additional 1,127,000 shares during the period. 83.13% of the stock is currently owned by institutional investors.

TC Energy Price Performance

Shares of TRP stock opened at $47.20 on Friday. 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 $49.04 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 4.34 and a beta of 0.83. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The stock’s 50-day simple moving average is $46.25 and its 200-day simple moving average is $46.78.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results 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. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the firm earned $1.35 earnings per share. As a group, equities analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.85 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.20%. TC Energy’s payout ratio is 72.53%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TRP shares. BMO Capital Markets raised their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Royal Bank of Canada raised their price target on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. TD Securities started coverage on TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Finally, Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given 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 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.