JPMorgan Chase & Co. grew its stake in TC Energy Co. (NYSE:TRP – Free Report) TSE: TRP by 4.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,070,536 shares of the pipeline company’s stock after acquiring an additional 352,829 shares during the period. JPMorgan Chase & Co. owned 0.78% of TC Energy worth $277,707,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the stock. OLD Point Trust & Financial Services N A bought a new position in TC Energy during the second quarter worth about $32,000. Hexagon Capital Partners LLC grew its holdings in TC Energy by 158.3% during the third quarter. Hexagon Capital Partners LLC now owns 1,085 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 665 shares during the period. Money Concepts Capital Corp grew its holdings in 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 during the period. Chilton Capital Management LLC bought a new position in TC Energy during the first quarter worth about $41,000. Finally, Peoples Bank KS bought a new position in TC Energy during the third quarter worth about $45,000. Institutional investors own 73.67% of the company’s stock.
Analyst Ratings Changes
TRP has been the subject of a number of research analyst reports. Barclays lifted their price target on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. The Goldman Sachs Group upped their target price on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, January 26th. Jefferies Financial Group began coverage on TC Energy in a research report on Tuesday, February 27th. They issued a “hold” rating on the stock. TheStreet raised TC Energy from a “d+” rating to a “c+” rating in a research report on Friday, February 16th. Finally, Stifel Nicolaus initiated coverage on TC Energy in a research report on Thursday, January 18th. They set a “buy” rating on the stock. One 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $48.83.
Get Our Latest Analysis on TRP
TC Energy Stock Down 0.1 %
Shares of TRP opened at $40.24 on Friday. TC Energy Co. has a 52 week low of $32.51 and a 52 week high of $42.76. The stock has a market capitalization of $40.24 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 3.37 and a beta of 0.75. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96. The stock has a fifty day moving average of $39.20 and a 200-day moving average of $37.38.
TC Energy Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a $0.714 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 7.10%. This is a boost from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Wednesday, March 27th. TC Energy’s dividend payout ratio is presently 138.42%.
TC Energy 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 93,700 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.
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