Tortoise Index Solutions LLC Purchases 43,084 Shares of TC Energy Co. (NYSE:TRP)

Tortoise Index Solutions LLC raised its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,044,764 shares of the pipeline company’s stock after purchasing an additional 43,084 shares during the quarter. TC Energy comprises approximately 7.6% of Tortoise Index Solutions LLC’s investment portfolio, making the stock its 2nd biggest holding. Tortoise Index Solutions LLC owned 0.10% of TC Energy worth $40,840,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Icon Wealth Advisors LLC acquired a new stake in shares of TC Energy in the fourth quarter valued at approximately $481,000. OLD Point Trust & Financial Services N A acquired a new position in shares of TC Energy during the fourth quarter valued at approximately $31,000. 1832 Asset Management L.P. increased its stake in shares of TC Energy by 20.5% during the fourth quarter. 1832 Asset Management L.P. now owns 19,786,834 shares of the pipeline company’s stock valued at $773,467,000 after acquiring an additional 3,366,443 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of TC Energy by 2.0% during the fourth quarter. Crossmark Global Holdings Inc. now owns 66,489 shares of the pipeline company’s stock valued at $2,599,000 after acquiring an additional 1,277 shares during the period. Finally, Capital World Investors increased its stake in shares of TC Energy by 0.5% during the fourth quarter. Capital World Investors now owns 37,412,046 shares of the pipeline company’s stock valued at $1,461,583,000 after acquiring an additional 181,091 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TRP shares. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Jefferies Financial Group initiated coverage on shares of TC Energy in a report on Tuesday, February 27th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $48.83.

TC Energy Trading Down 0.4 %

NYSE TRP traded down $0.16 on Tuesday, hitting $38.89. 433,679 shares of the stock were exchanged, compared to its average volume of 3,000,021. The company’s 50-day moving average price is $37.70 and its two-hundred day moving average price is $38.69. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.94 and a quick ratio of 0.85. TC Energy Co. has a 52-week low of $32.51 and a 52-week high of $41.85. The company has a market capitalization of $38.89 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 3.30 and a beta of 0.79.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.09. TC Energy had a return on equity of 17.94% and a net margin of 17.23%. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.12 billion. Research analysts predict that TC Energy Co. will post 2.99 EPS for the current year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.30%. The ex-dividend date is Friday, June 28th. TC Energy’s dividend payout ratio (DPR) is 145.88%.

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.