TC Energy Co. (NYSE:TRP) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. lifted its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 93.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,617,801 shares of the pipeline company’s stock after purchasing an additional 781,090 shares during the period. Franklin Resources Inc.’s holdings in TC Energy were worth $75,295,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of TRP. SBI Securities Co. Ltd. acquired a new stake in TC Energy in the fourth quarter worth $31,000. Versant Capital Management Inc bought a new position in shares of TC Energy during the fourth quarter worth about $33,000. Synergy Investment Management LLC acquired a new stake in shares of TC Energy in the 4th quarter worth about $36,000. Point72 DIFC Ltd bought a new stake in TC Energy in the 3rd quarter valued at about $39,000. Finally, Millstone Evans Group LLC acquired a new position in TC Energy during the 4th quarter valued at about $41,000. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Performance

NYSE:TRP opened at $48.75 on Friday. The company has a 50-day moving average of $46.60 and a 200-day moving average of $46.99. The firm has a market cap of $50.66 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. TC Energy Co. has a twelve month low of $34.95 and a twelve month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the business posted $1.35 earnings per share. 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 issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 6.97%. 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 dividend payout ratio is currently 72.53%.

Analyst Upgrades and Downgrades

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