CIBC Private Wealth Group LLC Grows Stake in TC Energy Co. (NYSE:TRP)

CIBC Private Wealth Group LLC grew its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 11.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 352,111 shares of the pipeline company’s stock after purchasing an additional 36,547 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in TC Energy were worth $16,827,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Addenda Capital Inc. boosted its holdings in TC Energy by 4.4% in the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock worth $48,135,000 after acquiring an additional 43,639 shares during the period. Captrust Financial Advisors lifted its position in shares of TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after purchasing an additional 242 shares in the last quarter. Ritholtz Wealth Management grew its holdings in TC Energy by 44.8% during the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock valued at $1,115,000 after purchasing an additional 7,412 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in TC Energy during the 3rd quarter worth $3,771,000. Finally, Exchange Traded Concepts LLC lifted its holdings in TC Energy by 7.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,034,698 shares of the pipeline company’s stock worth $48,144,000 after buying an additional 71,955 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. TD Securities initiated coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Royal Bank of Canada upped their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, TC Energy has a consensus rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Stock Performance

TC Energy stock opened at $47.17 on Tuesday. The company has a market cap of $49.02 billion, a PE ratio of 14.56, a P/E/G ratio of 4.34 and a beta of 0.83. TC Energy Co. has a 12 month low of $34.95 and a 12 month high of $50.37. The company has a fifty day moving average price of $46.53 and a two-hundred day moving average price of $46.96. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the firm earned $1.35 EPS. Research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.21%. This is a boost from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. TC Energy’s dividend payout ratio is presently 72.53%.

TC Energy Company 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.