New Hampshire Trust Buys 1,399 Shares of TC Energy Co. (NYSE:TRP)

New Hampshire Trust boosted its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 19.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 8,518 shares of the pipeline company’s stock after acquiring an additional 1,399 shares during the period. New Hampshire Trust’s holdings in TC Energy were worth $402,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TRP. Norges Bank acquired a new stake in TC Energy during the 4th quarter worth $428,759,000. Mufg Securities Canada LTD. grew its holdings in TC Energy by 571.7% during the 4th quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company’s stock worth $288,043,000 after acquiring an additional 5,264,079 shares during the period. Blackstone Inc. grew its holdings in TC Energy by 83.8% during the 4th quarter. Blackstone Inc. now owns 7,637,469 shares of the pipeline company’s stock worth $355,371,000 after acquiring an additional 3,482,874 shares during the period. FIL Ltd grew its holdings 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 acquiring an additional 2,644,627 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in TC Energy during the 4th quarter worth $102,405,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of NYSE TRP opened at $50.60 on Friday. The firm has a market cap of $52.61 billion, a PE ratio of 15.62, a PEG ratio of 4.34 and a beta of 0.78. 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 Co. has a 1-year low of $37.07 and a 1-year high of $51.34. The company has a fifty day moving average price of $48.83 and a 200 day moving average price of $47.62.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period last year, the firm earned $1.02 earnings per share. Research analysts predict that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.6142 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.86%. TC Energy’s payout ratio is 77.89%.

Analysts Set New Price Targets

A number of analysts have commented on TRP shares. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. CIBC raised shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Friday, May 2nd. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Cibc World Mkts raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 2nd. Finally, Royal Bank of Canada boosted their target price on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average 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.