Lantz Financial LLC Buys 312 Shares of TC Energy Co. (NYSE:TRP)

Lantz Financial LLC raised its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,048 shares of the pipeline company’s stock after purchasing an additional 312 shares during the quarter. Lantz Financial LLC’s holdings in TC Energy were worth $374,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TRP. Fortitude Family Office LLC bought a new stake in TC Energy during the third quarter worth about $28,000. Blue Trust Inc. increased its position in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of TC Energy during the 4th quarter worth approximately $33,000. Point72 DIFC Ltd acquired a new stake in shares of TC Energy in the 3rd quarter valued at approximately $39,000. Finally, UMB Bank n.a. bought a new position in shares of TC Energy in the fourth quarter valued at $47,000. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. BMO Capital Markets upped their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. 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. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Finally, UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $55.67.

TC Energy Stock Performance

NYSE:TRP opened at $47.57 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The stock has a 50 day simple moving average of $47.44 and a 200 day simple moving average of $45.89. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The stock has a market cap of $49.43 billion, a P/E ratio of 13.18, a PEG ratio of 4.45 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.83 billion. Research analysts anticipate that TC Energy Co. will post 2.95 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a dividend yield of 6.91%. TC Energy’s dividend payout ratio (DPR) is currently 63.43%.

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.