Glassman Wealth Services Boosts Stake in TC Energy Co. (NYSE:TRP)

Glassman Wealth Services lifted its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 61.0% in the 4th quarter, HoldingsChannel reports. The firm owned 726 shares of the pipeline company’s stock after acquiring an additional 275 shares during the period. Glassman Wealth Services’ holdings in TC Energy were worth $28,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of TRP. Norges Bank purchased a new stake in shares of TC Energy in the 4th quarter worth $341,262,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of TC Energy by 70.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock worth $569,058,000 after purchasing an additional 6,840,000 shares in the last quarter. Mufg Securities Canada LTD. purchased a new stake in shares of TC Energy in the 4th quarter worth $235,580,000. Canada Pension Plan Investment Board increased its stake in shares of TC Energy by 18.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company’s stock worth $849,037,000 after purchasing an additional 3,740,495 shares in the last quarter. Finally, Blackstone Inc. increased its stake in shares of TC Energy by 540.4% in the 3rd quarter. Blackstone Inc. now owns 3,117,031 shares of the pipeline company’s stock worth $107,257,000 after purchasing an additional 2,630,324 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Price Performance

Shares of TRP traded up $0.68 during midday trading on Thursday, hitting $36.41. 3,457,562 shares of the company traded hands, compared to its average volume of 3,085,895. The firm has a 50 day moving average of $38.60 and a 200-day moving average of $38.09. TC Energy Co. has a 52 week low of $32.51 and a 52 week high of $42.49. The stock has a market cap of $36.41 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 3.09 and a beta of 0.76. 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 released its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating 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 the consensus estimate of $2.93 billion. On average, analysts forecast that TC Energy Co. will post 2.9 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were issued a $0.714 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date was Wednesday, March 27th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 7.84%. TC Energy’s dividend payout ratio (DPR) is presently 139.41%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of TC Energy in a report on Thursday, January 18th. They issued a “buy” rating for the company. The Goldman Sachs Group upped 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 upped 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. TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Finally, Jefferies Financial Group assumed coverage on shares of TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, TC Energy currently has an average rating of “Hold” and a consensus target price of $48.83.

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.