Zions Bancorporation N.A. Boosts Stake in TC Energy Co. (NYSE:TRP)

Zions Bancorporation N.A. lifted its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 13.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 167,150 shares of the pipeline company’s stock after purchasing an additional 19,223 shares during the quarter. Zions Bancorporation N.A.’s holdings in TC Energy were worth $7,777,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

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

TC Energy Stock Up 1.7 %

TRP stock opened at $49.28 on Tuesday. The company’s 50 day moving average price is $46.40 and its 200 day moving average price is $46.89. The firm has a market capitalization of $51.20 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 4.34 and a beta of 0.83. TC Energy Co. has a fifty-two week low of $34.95 and a fifty-two week high of $50.37. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55.

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

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 6.90%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s payout ratio is 72.53%.

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.