Parkside Financial Bank & Trust Purchases New Position in TC Energy Co. (NYSE:TRP)

Parkside Financial Bank & Trust bought a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) in the fourth quarter, HoldingsChannel reports. The firm bought 1,900 shares of the pipeline company’s stock, valued at approximately $74,000.

Other large investors have also bought and sold shares of the company. Bruce G. Allen Investments LLC bought a new stake in TC Energy during the 4th quarter worth approximately $26,000. Hexagon Capital Partners LLC raised its holdings in shares of TC Energy by 158.3% in the third quarter. Hexagon Capital Partners LLC now owns 1,085 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 665 shares during the last quarter. Peoples Bank KS acquired a new stake in shares of TC Energy in the third quarter valued at approximately $45,000. AdvisorNet Financial Inc raised its holdings in shares of TC Energy by 25.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock valued at $58,000 after purchasing an additional 304 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in shares of TC Energy by 1,500.0% in the fourth quarter. Whittier Trust Co. now owns 1,840 shares of the pipeline company’s stock valued at $72,000 after purchasing an additional 1,725 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Trading Up 0.5 %

Shares of TC Energy stock opened at $36.10 on Friday. The firm has a 50-day moving average of $38.90 and a 200-day moving average of $38.03. The stock has a market cap of $36.10 billion, a PE ratio of 17.78, a PEG ratio of 3.11 and a beta of 0.75. TC Energy Co. has a 52-week low of $32.51 and a 52-week high of $42.49. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.20. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.93 billion. As a group, sell-side analysts forecast that TC Energy Co. will post 2.89 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a $0.714 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.86 annualized dividend and a dividend yield of 7.91%. This is an increase from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s dividend payout ratio is currently 139.41%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TRP. Jefferies Financial Group began coverage on shares of TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating on the stock. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. The Goldman Sachs Group boosted their target price on shares of TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a report on Friday, January 26th. Barclays boosted their target price on shares of TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Finally, Stifel Nicolaus initiated coverage on shares of TC Energy in a report on Thursday, January 18th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, TC Energy has an average rating of “Hold” and an average target price of $48.83.

About TC Energy

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.