West Family Investments Inc. Takes Position in TC Energy Co. (NYSE:TRP)

West Family Investments Inc. acquired a new position in TC Energy Co. (NYSE:TRP) (TSE:TRP) in the third quarter, HoldingsChannel.com reports. The firm acquired 4,537 shares of the pipeline company’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of TC Energy during the first quarter valued at $104,000. O Shaughnessy Asset Management LLC lifted its stake in TC Energy by 13.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 31,818 shares of the pipeline company’s stock valued at $1,279,000 after acquiring an additional 3,758 shares during the period. Bessemer Group Inc. raised its stake in TC Energy by 178.0% during the 1st quarter. Bessemer Group Inc. now owns 36,117 shares of the pipeline company’s stock valued at $1,451,000 after buying an additional 23,125 shares during the last quarter. Natixis bought a new position in shares of TC Energy during the 1st quarter valued at $270,000. Finally, Capital Group Private Client Services Inc. lifted its holdings in shares of TC Energy by 75.5% during the 1st quarter. Capital Group Private Client Services Inc. now owns 1,597,198 shares of the pipeline company’s stock valued at $64,196,000 after buying an additional 687,179 shares during the period. 83.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TRP has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price objective on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. StockNews.com initiated coverage on TC Energy in a research note on Monday. They set a “hold” rating for the company. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Finally, UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, TC Energy presently has a consensus rating of “Hold” and a consensus target price of $48.50.

TC Energy Stock Down 0.2 %

NYSE TRP opened at $49.83 on Wednesday. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.22. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $51.71 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. The stock’s 50-day moving average price is $47.01 and its 200-day moving average price is $43.01.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. On average, equities research analysts predict that TC Energy Co. will post 2.98 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. This represents a $3.29 annualized dividend and a dividend yield of 6.60%. This is an increase from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is presently 67.31%.

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.