TC Energy Co. (NYSE:TRP) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 29,994.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 309,376 shares of the pipeline company’s stock after buying an additional 308,348 shares during the period. Allspring Global Investments Holdings LLC’s holdings in TC Energy were worth $12,094,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC purchased a new position in shares of TC Energy in the 4th quarter valued at $26,000. Hexagon Capital Partners LLC raised its position in TC Energy by 158.3% in the third quarter. Hexagon Capital Partners LLC now owns 1,085 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 665 shares during the period. Money Concepts Capital Corp lifted its stake in shares of TC Energy by 149.1% during the fourth quarter. Money Concepts Capital Corp now owns 949 shares of the pipeline company’s stock worth $38,000 after purchasing an additional 568 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in shares of TC Energy in the first quarter worth about $41,000. Finally, Peoples Bank KS acquired a new stake in shares of TC Energy in the third quarter valued at about $45,000. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Performance

TC Energy stock opened at $36.00 on Tuesday. The company has a market cap of $36 billion, a PE ratio of 17.73, a P/E/G ratio of 3.02 and a beta of 0.75. TC Energy Co. has a 12 month low of $32.51 and a 12 month high of $42.49. The company has a fifty day moving average price of $39.25 and a two-hundred day moving average price of $37.97. 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 (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.79 by $0.20. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.93 billion. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. Research analysts expect that TC Energy Co. will post 2.99 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a dividend of $0.714 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.86 dividend on an annualized basis and a yield of 7.93%. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s payout ratio is currently 139.41%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TRP shares. Jefferies Financial Group initiated coverage on TC Energy in a research report on Tuesday, February 27th. They set a “hold” rating on the stock. Stifel Nicolaus began coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a “buy” rating on the stock. The Goldman Sachs Group upped their target price on shares of TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, January 26th. Barclays lifted their price target on shares of TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Finally, TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. One equities 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $48.83.

TC Energy Company 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.