10,051 Shares in TC Energy Co. (NYSE:TRP) Purchased by Keybank National Association OH

Posted by Defense World Staff on Apr 21st, 2023

Keybank National Association OH acquired a new position in shares of TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,051 shares of the pipeline company’s stock, valued at approximately $401,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Atria Investments Inc purchased a new stake in TC Energy during the 4th quarter worth about $1,195,000. Ingalls & Snyder LLC raised its holdings in shares of TC Energy by 6.4% in the 4th quarter. Ingalls & Snyder LLC now owns 8,650 shares of the pipeline company’s stock valued at $345,000 after acquiring an additional 520 shares in the last quarter. apricus wealth LLC raised its holdings in shares of TC Energy by 32.1% in the 4th quarter. apricus wealth LLC now owns 58,065 shares of the pipeline company’s stock valued at $2,314,000 after acquiring an additional 14,120 shares in the last quarter. Kestra Advisory Services LLC raised its holdings in shares of TC Energy by 15.5% in the 4th quarter. Kestra Advisory Services LLC now owns 18,045 shares of the pipeline company’s stock valued at $719,000 after acquiring an additional 2,415 shares in the last quarter. Finally, AE Wealth Management LLC raised its holdings in shares of TC Energy by 23.0% in the 4th quarter. AE Wealth Management LLC now owns 38,909 shares of the pipeline company’s stock valued at $1,551,000 after acquiring an additional 7,266 shares in the last quarter. Hedge funds and other institutional investors own 71.86% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. StockNews.com assumed coverage on TC Energy in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Scotiabank lowered their price target on TC Energy from C$67.00 to C$66.00 in a report on Thursday, February 2nd. Royal Bank of Canada lowered their price target on TC Energy from C$73.00 to C$65.00 in a report on Thursday, February 2nd. TheStreet lowered TC Energy from a “b-” rating to a “c” rating in a research report on Tuesday, February 14th. Finally, TD Securities reduced their price objective on TC Energy from C$71.00 to C$68.00 in a research report on Wednesday, February 15th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and an average price target of $64.72.

TC Energy Price Performance

TRP opened at $41.59 on Friday. The stock’s 50 day simple moving average is $40.28 and its 200 day simple moving average is $42.00. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.43 and a quick ratio of 0.38. TC Energy Co. has a 1 year low of $36.79 and a 1 year high of $59.38. The firm has a market cap of $42.54 billion, a price-to-earnings ratio of 71.71, a PEG ratio of 3.31 and a beta of 0.84.

TC Energy (NYSE:TRP – Get Rating) (TSE:TRP) last posted its quarterly earnings results on Tuesday, February 14th. The pipeline company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). TC Energy had a return on equity of 13.92% and a net margin of 5.57%. The company had revenue of $2.98 billion for the quarter. As a group, analysts predict that TC Energy Co. will post 3.17 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, March 31st will be given a $0.699 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.66. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date is Thursday, March 30th. TC Energy’s dividend payout ratio (DPR) is currently 474.14%.

TC Energy Company Profile

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TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Energy Solutions, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.

Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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