Korea Investment CORP Buys 325,627 Shares of TC Energy Co. (NYSE:TRP)

Korea Investment CORP increased its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 108.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 625,606 shares of the pipeline company’s stock after buying an additional 325,627 shares during the quarter. Korea Investment CORP owned 0.06% of TC Energy worth $29,140,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new stake in shares of TC Energy in the 4th quarter worth $31,000. Versant Capital Management Inc bought a new stake in TC Energy in the 4th quarter worth about $33,000. Synergy Investment Management LLC bought a new stake in TC Energy in the 4th quarter worth about $36,000. Point72 DIFC Ltd bought a new position in shares of TC Energy during the 3rd quarter worth approximately $39,000. Finally, Millstone Evans Group LLC bought a new position in shares of TC Energy during the 4th quarter worth approximately $41,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

NYSE TRP opened at $48.02 on Friday. The company has a market cap of $49.90 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The firm’s 50-day simple moving average is $46.54 and its two-hundred day simple moving average is $46.93. TC Energy Co. has a 52 week low of $34.95 and a 52 week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 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 analysts’ expectations of $2.42 billion. During the same period in the prior year, the company posted $1.35 EPS. Research analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.85 dividend. The ex-dividend date is Monday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 7.08%. TC Energy’s payout ratio is 72.53%.

Analyst Ratings Changes

TRP has been the subject of several recent analyst reports. StockNews.com lowered TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. TD Securities began coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada increased their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

About TC Energy

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.