Zurcher Kantonalbank Zurich Cantonalbank Has $10.85 Million Position in TC Energy Co. (NYSE:TRP)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 8.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 276,295 shares of the pipeline company’s stock after purchasing an additional 22,091 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in TC Energy were worth $10,846,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. ICA Group Wealth Management LLC grew its position in TC Energy by 23.8% in the 1st quarter. ICA Group Wealth Management LLC now owns 1,450 shares of the pipeline company’s stock valued at $56,000 after purchasing an additional 279 shares during the period. EverSource Wealth Advisors LLC lifted its stake in TC Energy by 14.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,315 shares of the pipeline company’s stock valued at $80,000 after acquiring an additional 288 shares in the last quarter. Boothbay Fund Management LLC lifted its stake in TC Energy by 1.0% during the 2nd quarter. Boothbay Fund Management LLC now owns 31,537 shares of the pipeline company’s stock valued at $1,274,000 after acquiring an additional 300 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in TC Energy by 25.8% during the 4th quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock valued at $58,000 after acquiring an additional 304 shares in the last quarter. Finally, Wealth Alliance lifted its stake in TC Energy by 1.4% during the 4th quarter. Wealth Alliance now owns 22,531 shares of the pipeline company’s stock valued at $881,000 after acquiring an additional 304 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Trading Up 1.1 %

Shares of TC Energy stock opened at $35.68 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96. The stock has a market capitalization of $35.68 billion, a P/E ratio of 17.58, a P/E/G ratio of 2.96 and a beta of 0.75. TC Energy Co. has a 52-week low of $32.51 and a 52-week high of $42.49. The stock’s 50-day simple moving average is $39.06 and its 200 day simple moving average is $37.95.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.93 billion. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. As a group, research analysts anticipate that TC Energy Co. will post 2.98 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.714 per share. This represents a $2.86 dividend on an annualized basis and a yield of 8.00%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s payout ratio is presently 139.41%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. The Goldman Sachs Group raised their price objective on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, January 26th. Stifel Nicolaus initiated coverage on TC Energy in a research note on Thursday, January 18th. They set a “buy” rating on the stock. Jefferies Financial Group initiated coverage on TC Energy in a research note on Tuesday, February 27th. They set a “hold” rating on the stock. Barclays lifted their target price on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Finally, TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $48.83.

TC Energy 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.