Physician Wealth Advisors Inc. Invests $188,000 in TC Energy Co. (NYSE:TRP)

Physician Wealth Advisors Inc. acquired a new stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 4th quarter, Holdings Channel reports. The fund acquired 4,048 shares of the pipeline company’s stock, valued at approximately $188,000.

A number of other large investors also recently modified their holdings of the company. Norges Bank bought a new position in TC Energy in the 4th quarter worth approximately $428,759,000. Mufg Securities Canada LTD. boosted its position in shares of TC Energy by 571.7% during the fourth 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 last quarter. Arrowstreet Capital Limited Partnership purchased a new position in TC Energy during the fourth quarter valued at $102,405,000. Kayne Anderson Capital Advisors LP increased its holdings in TC Energy by 51.4% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company’s stock valued at $225,310,000 after acquiring an additional 1,644,115 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in TC Energy in the 4th quarter worth $75,464,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

TRP has been the subject of a number of research analyst reports. TD Securities started coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada upped their price objective on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Finally, StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Stock Performance

NYSE TRP opened at $48.02 on Monday. The company has a market cap of $49.90 billion, a P/E ratio of 14.82, a P/E/G ratio of 4.34 and a beta of 0.83. The business’s 50 day moving average price is $46.54 and its 200-day moving average price is $46.95. TC Energy Co. has a fifty-two week low of $34.95 and a fifty-two week high of $50.37. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55.

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

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.85 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 7.08%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is presently 72.53%.

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.