Janney Montgomery Scott LLC Grows Position in TC Energy Co. (NYSE:TRP)

Janney Montgomery Scott LLC raised its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,906 shares of the pipeline company’s stock after acquiring an additional 840 shares during the period. Janney Montgomery Scott LLC’s holdings in TC Energy were worth $3,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRP. Capital Research Global Investors lifted its position in TC Energy by 2.7% during the first quarter. Capital Research Global Investors now owns 57,170,304 shares of the pipeline company’s stock valued at $2,297,701,000 after purchasing an additional 1,492,315 shares during the last quarter. Vanguard Group Inc. increased its position in shares of TC Energy by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company’s stock valued at $1,650,505,000 after purchasing an additional 653,031 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in TC Energy by 107.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after buying an additional 10,065,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in TC Energy by 94.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock worth $688,534,000 after buying an additional 8,339,800 shares during the period. Finally, TD Asset Management Inc raised its stake in shares of TC Energy by 9.5% in the first quarter. TD Asset Management Inc now owns 16,763,150 shares of the pipeline company’s stock valued at $674,366,000 after acquiring an additional 1,458,732 shares during the period. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Down 1.9 %

Shares of NYSE TRP opened at $48.76 on Monday. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.22. The stock’s fifty day simple moving average is $46.64 and its two-hundred day simple moving average is $42.33. The stock has a market capitalization of $50.61 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 4.04 and a beta of 0.81. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.96% and a net margin of 31.15%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. As a group, analysts expect that TC Energy Co. will post 2.99 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.822 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a yield of 6.74%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s payout ratio is currently 91.14%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TRP shares. Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. Finally, The Goldman Sachs Group increased their price objective on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and an average target price of $48.50.

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.