TC Energy Co. (NYSE:TRP) Shares Bought by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. raised its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 13.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 165,282 shares of the pipeline company’s stock after acquiring an additional 19,834 shares during the period. TC Energy makes up approximately 2.2% of Lorne Steinberg Wealth Management Inc.’s investment portfolio, making the stock its 17th largest position. Lorne Steinberg Wealth Management Inc.’s holdings in TC Energy were worth $6,458,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. CWM LLC raised its holdings in shares of TC Energy by 56.2% in the 4th quarter. CWM LLC now owns 2,725 shares of the pipeline company’s stock valued at $107,000 after purchasing an additional 980 shares in the last quarter. Signaturefd LLC raised its stake in TC Energy by 29.0% during the 4th quarter. Signaturefd LLC now owns 14,765 shares of the pipeline company’s stock worth $577,000 after acquiring an additional 3,317 shares in the last quarter. Lindbrook Capital LLC raised its stake in TC Energy by 1,354.8% during the 4th quarter. Lindbrook Capital LLC now owns 12,599 shares of the pipeline company’s stock worth $492,000 after acquiring an additional 11,733 shares in the last quarter. HF Advisory Group LLC raised its stake in TC Energy by 6.9% during the 4th quarter. HF Advisory Group LLC now owns 51,443 shares of the pipeline company’s stock worth $2,011,000 after acquiring an additional 3,316 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in TC Energy by 8.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 276,295 shares of the pipeline company’s stock worth $10,846,000 after acquiring an additional 22,091 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on TRP. Barclays lifted their price target 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. The Goldman Sachs Group raised their price objective on shares of TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Jefferies Financial Group initiated coverage on shares of TC Energy in a research report on Tuesday, February 27th. They set a “hold” rating on the stock. Finally, Stifel Nicolaus initiated coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $48.83.

TC Energy Stock Performance

Shares of NYSE:TRP traded down $0.37 during midday trading on Wednesday, hitting $35.66. The stock had a trading volume of 671,333 shares, compared to its average volume of 3,006,881. The company has a market capitalization of $35.66 billion, a PE ratio of 17.74, a P/E/G ratio of 3.02 and a beta of 0.75. TC Energy Co. has a 1 year low of $32.51 and a 1 year high of $42.49. The stock has a 50 day moving average price of $38.98 and a two-hundred day moving average price of $38.06. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65.

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, topping analysts’ consensus estimates of $0.79 by $0.20. The firm 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%. As a group, equities analysts predict that TC Energy Co. will post 2.98 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a dividend of $0.714 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.86 dividend on an annualized basis and a yield of 8.01%. This is an increase from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s payout ratio is currently 139.41%.

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.