Tortoise Capital Advisors L.L.C. Increases Stake in TC Energy Co. (NYSE:TRP)

Tortoise Capital Advisors L.L.C. grew its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 577.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,335,112 shares of the pipeline company’s stock after acquiring an additional 3,695,107 shares during the quarter. TC Energy comprises about 3.3% of Tortoise Capital Advisors L.L.C.’s portfolio, making the stock its 14th largest position. Tortoise Capital Advisors L.L.C. owned 0.44% of TC Energy worth $198,331,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in TRP. LPL Financial LLC raised its stake in shares of TC Energy by 3.6% in the fourth quarter. LPL Financial LLC now owns 228,216 shares of the pipeline company’s stock valued at $9,293,000 after acquiring an additional 7,966 shares during the period. Stifel Financial Corp increased its stake in TC Energy by 7.2% in the 4th quarter. Stifel Financial Corp now owns 205,903 shares of the pipeline company’s stock worth $8,384,000 after buying an additional 13,796 shares during the period. Schroder Investment Management Group increased its stake in TC Energy by 17.2% in the 4th quarter. Schroder Investment Management Group now owns 37,281 shares of the pipeline company’s stock worth $1,930,000 after buying an additional 5,473 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in TC Energy by 580.5% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,704,229 shares of the pipeline company’s stock worth $110,116,000 after buying an additional 2,306,833 shares during the period. Finally, Paloma Partners Management Co increased its stake in TC Energy by 588.9% in the 4th quarter. Paloma Partners Management Co now owns 75,671 shares of the pipeline company’s stock worth $3,080,000 after buying an additional 64,686 shares during the period. 69.47% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently commented on TRP shares. CIBC raised their price target on shares of TC Energy from C$70.00 to C$74.00 and gave the stock an “outperform” rating in a research note on Friday, June 18th. Morgan Stanley downgraded shares of TC Energy from an “overweight” rating to an “equal weight” rating and set a $76.00 price target on the stock. in a research note on Tuesday. Finally, Wells Fargo & Company increased their target price on shares of TC Energy from $66.00 to $68.00 and gave the stock an “equal weight” rating in a report on Thursday, May 13th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $68.08.

Shares of NYSE:TRP traded up $0.14 during trading on Thursday, reaching $48.61. The stock had a trading volume of 45,112 shares, compared to its average volume of 1,363,337. TC Energy Co. has a one year low of $38.80 and a one year high of $53.65. The firm has a market cap of $47.60 billion, a P/E ratio of 15.12, a P/E/G ratio of 2.30 and a beta of 0.79. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.81 and a quick ratio of 0.73. The stock has a 50-day moving average of $50.75.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, May 7th. The pipeline company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.02. TC Energy had a net margin of 17.91% and a return on equity of 13.97%. The business had revenue of $2.59 billion for the quarter. As a group, analysts forecast that TC Energy Co. will post 3.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 30th. Stockholders of record on Wednesday, June 30th will be issued a $0.7137 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.69. This represents a $2.85 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date is Tuesday, June 29th. TC Energy’s dividend payout ratio (DPR) is currently 39.49%.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Storage segments. The company builds and operates 93,400 km network 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.

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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