TC Energy Co. (NYSE:TRP) Shares Purchased by Addenda Capital Inc.

Addenda Capital Inc. grew its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,034,497 shares of the pipeline company’s stock after acquiring an additional 43,639 shares during the quarter. TC Energy comprises about 2.2% of Addenda Capital Inc.’s holdings, making the stock its 12th largest position. Addenda Capital Inc. owned 0.10% of TC Energy worth $48,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of TRP. Intech Investment Management LLC raised its stake in TC Energy by 14.3% during the second quarter. Intech Investment Management LLC now owns 32,936 shares of the pipeline company’s stock worth $1,248,000 after purchasing an additional 4,127 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of TC Energy by 4.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 15,708 shares of the pipeline company’s stock worth $596,000 after buying an additional 703 shares during the period. AE Wealth Management LLC boosted its holdings in TC Energy by 9.4% in the second quarter. AE Wealth Management LLC now owns 8,550 shares of the pipeline company’s stock valued at $324,000 after acquiring an additional 738 shares during the last quarter. Ensign Peak Advisors Inc grew its position in TC Energy by 3.4% during the second quarter. Ensign Peak Advisors Inc now owns 67,607 shares of the pipeline company’s stock valued at $2,656,000 after acquiring an additional 2,200 shares during the period. Finally, Mount Yale Investment Advisors LLC increased its stake in TC Energy by 3.6% during the second quarter. Mount Yale Investment Advisors LLC now owns 20,595 shares of the pipeline company’s stock worth $781,000 after acquiring an additional 722 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Performance

Shares of TRP stock opened at $47.39 on Tuesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The company’s fifty day moving average price is $47.59 and its two-hundred day moving average price is $45.67. The firm has a market capitalization of $49.25 billion, a P/E ratio of 13.13, a P/E/G ratio of 4.47 and a beta of 0.82. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. On average, research analysts anticipate that TC Energy Co. will post 2.95 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.94%. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is presently 63.43%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. TD Securities initiated coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. The Goldman Sachs Group increased their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $55.67.

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.