CANADA LIFE ASSURANCE Co Purchases 42,578 Shares of TC Energy Co. (NYSE:TRP)

CANADA LIFE ASSURANCE Co grew its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,140,672 shares of the pipeline company’s stock after buying an additional 42,578 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in TC Energy were worth $52,981,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board boosted its position in TC Energy by 9.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company’s stock worth $686,763,000 after purchasing an additional 1,280,000 shares during the period. Coleford Investment Management Ltd. purchased a new stake in shares of TC Energy during the 4th quarter valued at approximately $13,403,000. Marshall Wace LLP boosted its holdings in TC Energy by 42.9% in the 4th quarter. Marshall Wace LLP now owns 812,310 shares of the pipeline company’s stock worth $37,797,000 after buying an additional 243,874 shares during the period. NewEdge Advisors LLC boosted its holdings in TC Energy by 27.2% in the 4th quarter. NewEdge Advisors LLC now owns 65,566 shares of the pipeline company’s stock worth $3,051,000 after buying an additional 14,034 shares during the period. Finally, Jump Financial LLC purchased a new position in TC Energy in the 4th quarter valued at approximately $614,000. Institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

TRP has been the topic of several recent research reports. Royal Bank of Canada increased their target price on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” 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 report on Monday, February 3rd. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. TD Securities began coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Citigroup initiated coverage on shares of TC Energy in a research note on Friday, April 4th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Trading Up 1.1 %

Shares of TC Energy stock opened at $49.44 on Friday. 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 Co. has a 1 year low of $34.95 and a 1 year high of $50.37. The firm has a market cap of $51.39 billion, a PE ratio of 15.26, a PEG ratio of 4.34 and a beta of 0.74. The company has a 50 day simple moving average of $46.73 and a two-hundred day simple moving average of $46.99.

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

TC Energy Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 6.88%. TC Energy’s dividend payout ratio is 72.84%.

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.