Burney Co. Takes $2.12 Million Position in TC Energy Corporation $TRP

Burney Co. acquired a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 38,863 shares of the pipeline company’s stock, valued at approximately $2,115,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hilltop National Bank purchased a new position in TC Energy during the second quarter worth $32,000. Harbor Asset Planning Inc. purchased a new stake in shares of TC Energy in the second quarter valued at $43,000. Truvestments Capital LLC acquired a new stake in shares of TC Energy during the first quarter valued at $45,000. Sagard Holdings Management Inc. purchased a new stake in TC Energy during the 2nd quarter worth about $46,000. Finally, SouthState Corp increased its position in TC Energy by 2,757.1% during the 2nd quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock worth $49,000 after purchasing an additional 965 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

TRP has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of TC Energy from a “sell” rating to a “hold” rating in a report on Saturday. BMO Capital Markets raised shares of TC Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, November 7th. Citigroup restated a “neutral” rating on shares of TC Energy in a research report on Thursday, November 20th. Cibc Captl Mkts raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Finally, Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.00.

TC Energy Price Performance

TC Energy stock opened at $55.83 on Friday. TC Energy Corporation has a 1 year low of $43.51 and a 1 year high of $56.08. The firm has a 50 day moving average price of $53.31 and a 200 day moving average price of $51.37. The company has a market cap of $58.10 billion, a price-to-earnings ratio of 24.06 and a beta of 0.70. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.56. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter last year, the firm posted $1.03 earnings per share. Sell-side analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 6.1%. This is a boost from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Wednesday, December 31st. TC Energy’s dividend payout ratio (DPR) is presently 106.47%.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.