Guggenheim Capital LLC Boosts Position in TC Energy Co. (NYSE:TRP)

Guggenheim Capital LLC raised its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 9.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,970 shares of the pipeline company’s stock after purchasing an additional 1,323 shares during the quarter. Guggenheim Capital LLC’s holdings in TC Energy were worth $697,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of TC Energy in the fourth quarter worth about $31,000. Versant Capital Management Inc purchased a new stake in TC Energy in the 4th quarter worth approximately $33,000. Synergy Investment Management LLC bought a new stake in TC Energy during the 4th quarter worth approximately $36,000. Millstone Evans Group LLC purchased a new position in TC Energy during the fourth quarter valued at approximately $41,000. Finally, First Command Advisory Services Inc. bought a new position in shares of TC Energy in the fourth quarter worth approximately $46,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on TRP. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. StockNews.com cut TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Royal Bank of Canada boosted their price target on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, Citigroup assumed coverage on shares of TC Energy in a report on Friday, April 4th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Performance

NYSE:TRP opened at $49.47 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The company has a market cap of $51.43 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 4.34 and a beta of 0.74. TC Energy Co. has a 1 year low of $35.38 and a 1 year high of $50.37. The stock’s 50 day simple moving average is $46.97 and its two-hundred day simple moving average is $47.12.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the firm earned $1.35 earnings per share. As a group, equities analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.85 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 6.87%. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is currently 72.84%.

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.