Cerity Partners LLC Acquires Shares of 11,658 TC Energy Co. (NYSE:TRP)

Cerity Partners LLC acquired a new stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,658 shares of the pipeline company’s stock, valued at approximately $456,000.

A number of other large investors have also recently made changes to their positions in TRP. Bruce G. Allen Investments LLC bought a new stake in shares of TC Energy in the fourth quarter worth approximately $26,000. Hexagon Capital Partners LLC grew its stake in shares of TC Energy by 158.3% in the third quarter. Hexagon Capital Partners LLC now owns 1,085 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 665 shares during the period. Peoples Bank KS bought a new stake in shares of TC Energy in the third quarter worth approximately $45,000. AdvisorNet Financial Inc grew its stake in shares of TC Energy by 25.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock worth $58,000 after acquiring an additional 304 shares during the period. Finally, Whittier Trust Co. grew its stake in shares of TC Energy by 1,500.0% in the fourth quarter. Whittier Trust Co. now owns 1,840 shares of the pipeline company’s stock worth $72,000 after acquiring an additional 1,725 shares during the period. 83.13% of the stock is currently owned by institutional investors.

TC Energy Price Performance

Shares of NYSE:TRP opened at $36.10 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88. TC Energy Co. has a 1-year low of $32.51 and a 1-year high of $42.49. The company has a market capitalization of $36.10 billion, a P/E ratio of 17.78, a P/E/G ratio of 3.03 and a beta of 0.75. The firm’s 50 day simple moving average is $38.90 and its two-hundred day simple moving average is $38.03.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.20. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.93 billion. Research analysts expect that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a $0.714 dividend. This represents a $2.86 annualized dividend and a dividend yield of 7.91%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s payout ratio is 139.41%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TRP shares. Jefferies Financial Group started coverage on shares of TC Energy in a research note on Tuesday, February 27th. They issued a “hold” rating for the company. Barclays boosted their target price on shares of TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group boosted their target price on shares of TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, January 26th. Finally, Stifel Nicolaus started coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, TC Energy presently has a consensus rating of “Hold” and a consensus target price of $48.83.

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.