Bell Bank Has $8.18 Million Stake in TC Energy Co. (NYSE:TRP)

Bell Bank increased its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 14.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 175,742 shares of the pipeline company’s stock after purchasing an additional 21,970 shares during the period. Bell Bank’s holdings in TC Energy were worth $8,177,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRP. Arcadia Investment Management Corp MI acquired a new stake in TC Energy in the 4th quarter worth $93,000. Allianz Asset Management GmbH increased its stake in TC Energy by 5.5% during the fourth quarter. Allianz Asset Management GmbH now owns 1,086,132 shares of the pipeline company’s stock valued at $50,591,000 after acquiring an additional 56,566 shares during the period. First Bank & Trust raised its holdings in TC Energy by 0.6% in the 4th quarter. First Bank & Trust now owns 58,396 shares of the pipeline company’s stock valued at $2,717,000 after acquiring an additional 347 shares in the last quarter. Corps Capital Advisors LLC bought a new stake in shares of TC Energy in the 4th quarter worth approximately $518,000. Finally, Alberta Investment Management Corp grew its holdings in shares of TC Energy by 3.8% during the 4th quarter. Alberta Investment Management Corp now owns 2,868,232 shares of the pipeline company’s stock worth $133,600,000 after purchasing an additional 104,973 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Down 1.3 %

NYSE TRP opened at $44.94 on Friday. The stock’s 50 day simple moving average is $46.48 and its 200 day simple moving average is $46.63. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37. The firm has a market cap of $46.70 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 4.34 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the prior year, the business earned $1.35 earnings per share. As a group, sell-side analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.57%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s dividend payout ratio is presently 70.68%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TRP shares. StockNews.com raised TC Energy from a “hold” rating to a “buy” rating in a research report on Wednesday. TD Securities started coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada upped their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday. Finally, US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

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.