NTV Asset Management LLC Makes New $248,000 Investment in TC Energy Co. (NYSE:TRP)

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

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in TC Energy by 3.5% in the third quarter. Vanguard Group Inc. now owns 39,625,940 shares of the pipeline company’s stock worth $1,363,529,000 after purchasing an additional 1,344,000 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in TC Energy by 18.0% in the third quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company’s stock worth $849,037,000 after acquiring an additional 3,740,495 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of TC Energy by 70.5% during the third 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 acquiring an additional 6,840,000 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of TC Energy by 3.5% during the third quarter. Legal & General Group Plc now owns 9,725,714 shares of the pipeline company’s stock valued at $335,992,000 after acquiring an additional 328,795 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of TC Energy by 24.8% in the 3rd quarter. CIBC Asset Management Inc now owns 9,567,604 shares of the pipeline company’s stock valued at $330,044,000 after purchasing an additional 1,901,838 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

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

TC Energy Price Performance

Shares of NYSE:TRP traded up $1.21 during midday trading on Friday, reaching $37.62. 3,893,017 shares of the company’s stock traded hands, compared to its average volume of 4,264,774. The company has a fifty day simple moving average of $38.49 and a two-hundred day simple moving average of $38.14. TC Energy Co. has a 1 year low of $32.51 and a 1 year high of $42.49. The company has a market cap of $37.62 billion, a P/E ratio of 19.39, a PEG ratio of 3.24 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 posted its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.20. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.93 billion. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. Equities analysts predict that TC Energy Co. will post 2.9 EPS for the current fiscal year.

TC Energy Cuts Dividend

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