Parkside Financial Bank & Trust Takes $74,000 Position in TC Energy Co. (NYSE:TRP)

Parkside Financial Bank & Trust bought a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,900 shares of the pipeline company’s stock, valued at approximately $74,000.

Several other institutional investors also recently modified their holdings of TRP. IFP Advisors Inc grew its holdings in TC Energy by 74.8% during the third quarter. IFP Advisors Inc now owns 3,455 shares of the pipeline company’s stock valued at $119,000 after purchasing an additional 1,478 shares during the period. SG Americas Securities LLC boosted its holdings in shares of TC Energy by 747.1% in the third quarter. SG Americas Securities LLC now owns 22,627 shares of the pipeline company’s stock worth $779,000 after acquiring an additional 19,956 shares during the period. DAVENPORT & Co LLC boosted its holdings in shares of TC Energy by 2.5% in the third quarter. DAVENPORT & Co LLC now owns 87,614 shares of the pipeline company’s stock worth $3,027,000 after acquiring an additional 2,110 shares during the period. Private Trust Co. NA boosted its holdings in shares of TC Energy by 10.2% in the third quarter. Private Trust Co. NA now owns 5,817 shares of the pipeline company’s stock worth $200,000 after acquiring an additional 540 shares during the period. Finally, SS&H Financial Advisors Inc. bought a new position in shares of TC Energy in the third quarter worth $220,000. 83.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

TC Energy Trading Up 0.5 %

Shares of TRP stock opened at $36.10 on Friday. TC Energy Co. has a 1 year low of $32.51 and a 1 year high of $42.49. The firm has a fifty day moving average price of $38.90 and a 200-day moving average price of $38.03. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88. The company has a market cap of $36.10 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 3.11 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.20. The company had revenue of $3.11 billion during 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 2.89 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.714 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $2.86 annualized dividend and a yield of 7.91%. This is an increase from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s dividend payout ratio is currently 139.41%.

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.