NTV Asset Management LLC Purchases Shares of 6,350 TC Energy Co. (NYSE:TRP)

NTV Asset Management LLC bought a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 6,350 shares of the pipeline company’s stock, valued at approximately $248,000.

A number of other hedge funds have also made changes to their positions in TRP. Royal Fund Management LLC grew its stake in TC Energy by 5.9% during the fourth quarter. Royal Fund Management LLC now owns 18,583 shares of the pipeline company’s stock worth $727,000 after buying an additional 1,029 shares during the last quarter. Axxcess Wealth Management LLC acquired a new stake in TC Energy during the 4th quarter valued at $544,000. Benjamin F. Edwards & Company Inc. bought a new position in TC Energy in the 4th quarter valued at $576,000. Natixis Advisors L.P. boosted its stake in TC Energy by 49.8% in the fourth quarter. Natixis Advisors L.P. now owns 32,890 shares of the pipeline company’s stock worth $1,285,000 after purchasing an additional 10,929 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of TC Energy by 55.6% during the fourth quarter. First Horizon Advisors Inc. now owns 3,616 shares of the pipeline company’s stock worth $141,000 after purchasing an additional 1,292 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TRP shares. Jefferies Financial Group initiated coverage on TC Energy in a report on Tuesday, February 27th. They set a “hold” rating on the stock. Stifel Nicolaus began coverage on TC Energy in a report on Thursday, January 18th. They set a “buy” rating for the company. TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group upped their price target on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Finally, Barclays lifted their price objective on shares of TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $48.83.

TC Energy Trading Up 3.3 %

NYSE TRP traded up $1.21 during trading hours on Friday, hitting $37.62. 3,893,017 shares of the company’s stock were exchanged, compared to its average volume of 4,264,774. TC Energy Co. has a 1-year low of $32.51 and a 1-year high of $42.49. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. The stock has a 50-day simple moving average of $38.49 and a 200 day simple moving average of $38.14. The firm has a market cap of $37.62 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 3.24 and a beta of 0.76.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.20. The company had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.93 billion. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. On average, equities analysts forecast that TC Energy Co. will post 2.9 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 7.55%. The ex-dividend date is Friday, June 28th. TC Energy’s dividend payout ratio (DPR) is presently 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.