5,882 Shares in TC Energy Co. (NYSE:TRP) Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC acquired a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,882 shares of the pipeline company’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of TC Energy by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 39,625,940 shares of the pipeline company’s stock valued at $1,363,529,000 after acquiring an additional 1,344,000 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in TC Energy by 18.0% during the third quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company’s stock valued at $849,037,000 after purchasing an additional 3,740,495 shares during the period. Mackenzie Financial Corp increased its stake in TC Energy by 0.8% in the fourth quarter. Mackenzie Financial Corp now owns 17,122,704 shares of the pipeline company’s stock valued at $681,525,000 after purchasing an additional 128,168 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in TC Energy by 70.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock worth $569,058,000 after purchasing an additional 6,840,000 shares during the period. Finally, Norges Bank bought a new position in shares of TC Energy during the fourth quarter worth $519,894,000. 83.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

TC Energy Price Performance

Shares of TRP opened at $35.70 on Friday. The company has a 50 day moving average of $39.06 and a 200-day moving average of $37.99. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $35.70 billion, a P/E ratio of 17.59, a P/E/G ratio of 2.96 and a beta of 0.75. TC Energy Co. has a twelve month low of $32.51 and a twelve month high of $42.49.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $2.93 billion. As a group, equities research analysts forecast that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed 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 is a boost from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date is Wednesday, March 27th. This represents a $2.86 annualized dividend and a dividend yield of 8.00%. TC Energy’s dividend payout ratio (DPR) is presently 139.41%.

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.