Van Lanschot Kempen Investment Management N.V. Acquires New Stake in TC Energy Co. (NYSE:TRP)

Van Lanschot Kempen Investment Management N.V. bought a new position in TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 168,775 shares of the pipeline company’s stock, valued at approximately $7,853,000.

Several other institutional investors and hedge funds have also bought and sold shares of TRP. Norges Bank purchased a new position in TC Energy during the fourth quarter valued at $428,759,000. Mufg Securities Canada LTD. raised its stake in TC Energy by 571.7% during the 4th quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company’s stock worth $288,043,000 after acquiring an additional 5,264,079 shares during the period. FIL Ltd lifted its holdings in TC Energy by 10.3% during the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company’s stock valued at $1,325,558,000 after purchasing an additional 2,644,627 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of TC Energy in the fourth quarter worth approximately $102,405,000. Finally, Kayne Anderson Capital Advisors LP increased its stake in shares of TC Energy by 51.4% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company’s stock worth $225,310,000 after purchasing an additional 1,644,115 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Down 1.9 %

Shares of NYSE TRP opened at $48.48 on Tuesday. TC Energy Co. has a twelve month low of $35.38 and a twelve month high of $50.37. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The business has a fifty day simple moving average of $46.81 and a two-hundred day simple moving average of $47.06. The firm has a market cap of $50.38 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the prior year, the business posted $1.35 EPS. Analysts expect that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 7.01%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. TC Energy’s payout ratio is 72.84%.

Analyst Ratings Changes

A number of research firms have commented on TRP. Royal Bank of Canada raised their price target on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Citigroup started coverage on TC Energy in a report on Friday, April 4th. They issued a “neutral” rating on the stock. TD Securities initiated coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a “buy” rating for the company. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Finally, StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

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.