TC Energy Co. (NYSE:TRP) Shares Bought by Lipe & Dalton

Lipe & Dalton lifted its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,117 shares of the pipeline company’s stock after purchasing an additional 1,300 shares during the period. Lipe & Dalton’s holdings in TC Energy were worth $1,725,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TRP. Bruce G. Allen Investments LLC acquired a new position in shares of TC Energy in the 4th quarter worth approximately $26,000. Hexagon Capital Partners LLC boosted its holdings in shares of TC Energy by 158.3% in the third quarter. Hexagon Capital Partners LLC now owns 1,085 shares of the pipeline company’s stock worth $37,000 after buying an additional 665 shares during the period. Money Concepts Capital Corp boosted its holdings in shares of TC Energy by 149.1% in the fourth quarter. Money Concepts Capital Corp now owns 949 shares of the pipeline company’s stock worth $38,000 after buying an additional 568 shares during the period. Chilton Capital Management LLC acquired a new position in shares of TC Energy in the first quarter worth about $41,000. Finally, Peoples Bank KS acquired a new position in shares of TC Energy in the third quarter worth about $45,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

NYSE TRP traded down $0.81 on Tuesday, hitting $35.19. 5,283,436 shares of the company were exchanged, compared to its average volume of 2,931,164. The firm has a 50 day moving average of $39.25 and a two-hundred day moving average of $37.97. The company has a market cap of $35.19 billion, a P/E ratio of 17.51, a P/E/G ratio of 3.02 and a beta of 0.75. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. TC Energy Co. has a 1-year low of $32.51 and a 1-year high of $42.49.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.20. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.93 billion. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. On average, equities analysts predict that TC Energy Co. will post 2.99 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a $0.714 dividend. The ex-dividend date is Wednesday, March 27th. This is a boost from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 dividend on an annualized basis and a dividend yield of 8.12%. TC Energy’s dividend payout ratio is 139.41%.

Analyst Ratings Changes

TRP has been the subject of several recent analyst reports. Jefferies Financial Group assumed coverage on shares of TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating for the company. The Goldman Sachs Group lifted their target price on shares of TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, January 26th. TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Stifel Nicolaus started coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a “buy” rating on the stock. Finally, Barclays boosted their target price on shares of TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $48.83.

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.