First Bank & Trust Grows Stock Position in TC Energy Co. (NYSE:TRP)

First Bank & Trust increased its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 58,835 shares of the pipeline company’s stock after acquiring an additional 1,198 shares during the period. First Bank & Trust’s holdings in TC Energy were worth $2,365,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TRP. Capital Research Global Investors raised its holdings in TC Energy by 23.7% in the 4th quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company’s stock valued at $2,174,931,000 after buying an additional 10,654,993 shares during the period. Norges Bank purchased a new stake in shares of TC Energy in the 4th quarter valued at approximately $341,262,000. Mufg Securities Canada LTD. acquired a new position in shares of TC Energy in the 4th quarter worth approximately $235,580,000. Capital International Investors boosted its position in shares of TC Energy by 11.8% during the 4th quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock worth $2,155,419,000 after purchasing an additional 5,822,056 shares during the period. Finally, FIL Ltd increased its holdings in TC Energy by 37.2% in the 4th quarter. FIL Ltd now owns 16,706,812 shares of the pipeline company’s stock valued at $652,613,000 after purchasing an additional 4,528,555 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analysts Set New Price Targets

Separately, TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $48.83.

TC Energy Stock Up 0.1 %

NYSE:TRP traded up $0.05 during midday trading on Friday, reaching $37.90. The company had a trading volume of 3,808,773 shares, compared to its average volume of 3,026,611. TC Energy Co. has a 12-month low of $32.51 and a 12-month high of $41.03. The firm has a market capitalization of $37.90 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 3.20 and a beta of 0.79. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.64. The stock’s fifty day simple moving average is $38.10 and its 200-day simple moving average is $38.77.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. TC Energy had a return on equity of 17.94% and a net margin of 17.23%. The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.12 billion. On average, sell-side analysts anticipate that TC Energy Co. will post 3.01 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.71 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.84 dividend on an annualized basis and a yield of 7.49%. TC Energy’s dividend payout ratio is currently 145.88%.

TC Energy 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.