Genesis Private Wealth LLC Acquires Shares of 4,583 TC Energy Co. (NYSE:TRP)

Genesis Private Wealth LLC acquired a new stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 4,583 shares of the pipeline company’s stock, valued at approximately $213,000.

Other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new position in shares of TC Energy during the 3rd quarter valued at approximately $28,000. Blue Trust Inc. boosted its position in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 267 shares during the last quarter. Versant Capital Management Inc bought a new position in shares of TC Energy during the 4th quarter valued at approximately $33,000. Point72 DIFC Ltd bought a new position in shares of TC Energy during the 3rd quarter valued at approximately $39,000. Finally, UMB Bank n.a. bought a new position in shares of TC Energy during the 4th quarter valued at approximately $47,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Performance

TRP stock opened at $47.52 on Wednesday. The firm has a market cap of $49.38 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 4.47 and a beta of 0.82. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37. The business’s fifty day simple moving average is $47.54 and its two-hundred day simple moving average is $45.74.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. Analysts predict that TC Energy Co. will post 2.95 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 6.92%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is currently 63.16%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. BMO Capital Markets increased their target price on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group raised their price target on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Finally, StockNews.com began coverage on TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.67.

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.