Lee Financial Co Makes New $915,000 Investment in TC Energy Corporation $TRP

Lee Financial Co purchased a new stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the third quarter, according to its most recent filing with the SEC. The firm purchased 16,814 shares of the pipeline company’s stock, valued at approximately $915,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Hilltop National Bank bought a new stake in TC Energy during the second quarter valued at about $32,000. Harbor Asset Planning Inc. purchased a new stake in shares of TC Energy during the second quarter valued at about $43,000. Sagard Holdings Management Inc. bought a new stake in shares of TC Energy in the 2nd quarter valued at about $46,000. SouthState Corp grew its position in shares of TC Energy by 2,757.1% in the 2nd quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock worth $49,000 after buying an additional 965 shares during the last quarter. Finally, City Holding Co. purchased a new position in shares of TC Energy in the 3rd quarter worth approximately $72,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRP has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of TC Energy in a research report on Monday, December 29th. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a report on Monday, October 20th. Citigroup restated a “neutral” rating on shares of TC Energy in a research note on Thursday, November 20th. Royal Bank Of Canada upped their target price on TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of TC Energy in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.00.

TC Energy Stock Performance

Shares of TRP stock opened at $58.65 on Friday. The business has a fifty day moving average of $54.91 and a 200 day moving average of $52.65. TC Energy Corporation has a 1 year low of $43.51 and a 1 year high of $59.44. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.63 and a quick ratio of 0.56. The firm has a market capitalization of $61.04 billion, a price-to-earnings ratio of 25.28 and a beta of 0.72.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.56. TC Energy had a return on equity of 10.61% and a net margin of 23.86%.The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period in the prior year, the company earned $1.03 earnings per share. As a group, research analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were given a dividend of $0.85 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Wednesday, December 31st. TC Energy’s payout ratio is presently 106.90%.

TC Energy Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long?distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.