Spirit of America Management Corp NY Boosts Holdings in TC Energy Co. (NYSE:TRP)

Spirit of America Management Corp NY grew its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.7% during the fourth quarter, HoldingsChannel reports. The firm owned 76,578 shares of the pipeline company’s stock after buying an additional 2,750 shares during the period. Spirit of America Management Corp NY’s holdings in TC Energy were worth $3,563,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TRP. Cetera Investment Advisers raised its stake in shares of TC Energy by 5.2% during the second quarter. Cetera Investment Advisers now owns 103,894 shares of the pipeline company’s stock valued at $3,938,000 after purchasing an additional 5,165 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of TC Energy in the second quarter worth $742,000. Atomi Financial Group Inc. increased its stake in shares of TC Energy by 63.7% in the third quarter. Atomi Financial Group Inc. now owns 11,716 shares of the pipeline company’s stock worth $557,000 after buying an additional 4,561 shares during the last quarter. SL Advisors LLC increased its stake in shares of TC Energy by 2.1% in the third quarter. SL Advisors LLC now owns 30,175 shares of the pipeline company’s stock worth $1,435,000 after buying an additional 611 shares during the last quarter. Finally, Royal Fund Management LLC increased its stake in shares of TC Energy by 87.4% in the third quarter. Royal Fund Management LLC now owns 34,948 shares of the pipeline company’s stock worth $1,663,000 after buying an additional 16,296 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

TRP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. The Goldman Sachs Group lifted their price target on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Finally, TD Securities started coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.00.

TC Energy Stock Performance

TC Energy stock opened at $46.71 on Wednesday. The company has a market cap of $48.53 billion, a PE ratio of 12.94, a P/E/G ratio of 4.31 and a beta of 0.81. The company has a fifty day moving average price of $46.92 and a two-hundred day moving average price of $46.25. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results 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 net margin of 31.15% and a return on equity of 12.92%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. Research analysts expect that TC Energy Co. will post 2.95 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.822 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date was Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 7.04%. TC Energy’s payout ratio is 63.43%.

About TC Energy

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.