4,520 Shares in TC Energy Co. (NYSE:TRP) Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. acquired a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 4,520 shares of the pipeline company’s stock, valued at approximately $215,000.

A number of other large investors have also recently bought and sold shares of TRP. Canada Pension Plan Investment Board boosted its stake in TC Energy by 107.1% in the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after buying an additional 10,065,000 shares in the last quarter. Murchinson Ltd. acquired a new stake in TC Energy in the first quarter valued at approximately $506,485,000. Legal & General Group Plc grew its stake in shares of TC Energy by 4.1% during the second quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock worth $450,749,000 after buying an additional 467,497 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of TC Energy by 2.6% during the second quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock worth $322,584,000 after buying an additional 214,689 shares in the last quarter. Finally, Cardinal Capital Management Inc. lifted its stake in shares of TC Energy by 101.4% in the 2nd quarter. Cardinal Capital Management Inc. now owns 5,068,758 shares of the pipeline company’s stock valued at $192,024,000 after acquiring an additional 2,551,926 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TRP has been the topic of several recent research reports. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. The Goldman Sachs Group increased their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $55.67.

TC Energy Stock Down 1.3 %

TRP opened at $49.21 on Thursday. The company’s 50-day moving average price is $47.07 and its two-hundred day moving average price is $43.05. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.22. The stock has a market cap of $51.07 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 4.12 and a beta of 0.81. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78.

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

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.822 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.68%. TC Energy’s payout ratio 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.