Tortoise Capital Advisors L.L.C. Has $385.27 Million Stock Holdings in TC Energy Co. (NYSE:TRP)

Tortoise Capital Advisors L.L.C. raised its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,279,997 shares of the pipeline company’s stock after acquiring an additional 337,647 shares during the period. TC Energy comprises 4.9% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 8th biggest holding. Tortoise Capital Advisors L.L.C.’s holdings in TC Energy were worth $385,268,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of TRP. Vanguard Group Inc. raised its position in TC Energy by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company’s stock valued at $2,035,952,000 after purchasing an additional 734,678 shares during the last quarter. FIL Ltd boosted its position in TC Energy by 10.3% during the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company’s stock worth $1,325,558,000 after buying an additional 2,644,627 shares during the period. TD Asset Management Inc. grew its holdings in TC Energy by 2.1% during the 4th quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company’s stock worth $765,627,000 after acquiring an additional 344,485 shares during the last quarter. Canada Pension Plan Investment Board increased its position in TC Energy by 9.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company’s stock valued at $686,763,000 after acquiring an additional 1,280,000 shares during the period. Finally, Norges Bank bought a new stake in shares of TC Energy in the fourth quarter worth $428,759,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

TRP opened at $49.44 on Friday. TC Energy Co. has a 1-year low of $35.38 and a 1-year high of $50.37. The company has a market cap of $51.39 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 4.34 and a beta of 0.74. The company’s fifty day moving average price is $46.78 and its two-hundred day moving average price is $47.01. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.

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

TC Energy Increases Dividend

The company 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 6.88%. The ex-dividend date is Monday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is currently 72.84%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. StockNews.com downgraded TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Citigroup assumed coverage on shares of TC Energy in a report on Friday, April 4th. They set a “neutral” rating for the company. TD Securities started coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Royal Bank of Canada lifted their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

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.