TC Energy Corporation $TRP Position Raised by Tortoise Capital Advisors L.L.C.

Tortoise Capital Advisors L.L.C. raised its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 4.7% during the first quarter, HoldingsChannel reports. The firm owned 8,673,255 shares of the pipeline company’s stock after buying an additional 393,258 shares during the quarter. TC Energy accounts for 5.0% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 8th biggest position. Tortoise Capital Advisors L.L.C.’s holdings in TC Energy were worth $409,464,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TRP. Mariner LLC increased its position in shares of TC Energy by 12.4% in the 4th quarter. Mariner LLC now owns 39,580 shares of the pipeline company’s stock valued at $1,842,000 after purchasing an additional 4,375 shares during the last quarter. Guggenheim Capital LLC increased its position in shares of TC Energy by 9.7% in the 4th quarter. Guggenheim Capital LLC now owns 14,970 shares of the pipeline company’s stock valued at $697,000 after purchasing an additional 1,323 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of TC Energy in the 4th quarter valued at approximately $614,000. First Trust Advisors LP increased its position in shares of TC Energy by 685.3% in the 4th quarter. First Trust Advisors LP now owns 1,061,697 shares of the pipeline company’s stock valued at $49,411,000 after purchasing an additional 926,497 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of TC Energy by 67.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,658 shares of the pipeline company’s stock valued at $77,000 after purchasing an additional 666 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TRP. Barclays restated an “overweight” rating on shares of TC Energy in a report on Thursday, August 14th. US Capital Advisors cut shares of TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday. CIBC upgraded shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Friday, May 2nd. Finally, Cibc World Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Stock Down 0.8%

Shares of NYSE:TRP opened at $51.46 on Friday. The stock has a market cap of $53.52 billion, a P/E ratio of 17.56, a P/E/G ratio of 4.97 and a beta of 0.75. The firm has a fifty day moving average price of $48.53 and a 200 day moving average price of $48.25. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. TC Energy Corporation has a 1-year low of $40.13 and a 1-year high of $52.10.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same quarter in the prior year, the business earned $0.79 EPS. Sell-side analysts predict that TC Energy Corporation 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 Friday, October 31st. Investors of record on Monday, September 29th will be paid a dividend of $0.6148 per share. The ex-dividend date is Monday, September 29th. This represents a $2.46 dividend on an annualized basis and a yield of 4.8%. This is an increase from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio (DPR) is currently 85.32%.

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.