Dixon Mitchell Investment Counsel Inc. Purchases 338 Shares of TC Energy Co. (NYSE:TRP)

Dixon Mitchell Investment Counsel Inc. increased its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 21.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,921 shares of the pipeline company’s stock after acquiring an additional 338 shares during the period. Dixon Mitchell Investment Counsel Inc.’s holdings in TC Energy were worth $91,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in shares of TC Energy in the 3rd quarter worth approximately $28,000. Blue Trust Inc. grew its stake in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after buying an additional 267 shares during the last quarter. Versant Capital Management Inc purchased a new position in shares of TC Energy in the fourth quarter worth about $33,000. Point72 DIFC Ltd bought a new stake in shares of TC Energy in the 3rd quarter valued at about $39,000. Finally, Farther Finance Advisors LLC grew its position in TC Energy by 215.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company’s stock worth $57,000 after acquiring an additional 826 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Trading Down 0.5 %

Shares of NYSE TRP opened at $46.65 on Thursday. The company has a market cap of $48.46 billion, a PE ratio of 12.92, a P/E/G ratio of 4.31 and a beta of 0.82. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The firm’s 50 day moving average price is $47.71 and its 200-day moving average price is $45.48. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data 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 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. On average, equities research analysts expect that TC Energy Co. will post 2.95 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 annualized dividend and a yield of 7.05%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio is currently 63.43%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TRP. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. The Goldman Sachs Group boosted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Finally, StockNews.com started coverage on shares of TC Energy in a research note on Wednesday, December 4th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $55.67.

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 93,600 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.