West Family Investments Inc. bought a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 77,093 shares of the pipeline company’s stock, valued at approximately $3,527,000. TC Energy makes up approximately 1.3% of West Family Investments Inc.’s portfolio, making the stock its 20th biggest position.
Several other large investors have also bought and sold shares of the company. Savior LLC boosted its position in TC Energy by 180.7% during the first quarter. Savior LLC now owns 539 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 347 shares in the last quarter. Allred Capital Management LLC purchased a new position in shares of TC Energy during the 1st quarter valued at approximately $27,000. Capital Asset Advisory Services LLC purchased a new stake in TC Energy in the 4th quarter worth $26,000. Paradigm Strategies in Wealth Management LLC acquired a new position in TC Energy during the first quarter worth $29,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in TC Energy by 54.4% during the first quarter. Rockefeller Capital Management L.P. now owns 715 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 252 shares in the last quarter. Hedge funds and other institutional investors own 71.03% of the company’s stock.
Several research firms recently issued reports on TRP. Evercore ISI began coverage on TC Energy in a report on Friday, March 19th. They issued a $70.00 price objective on the stock. CIBC increased their price objective on TC Energy from $69.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, February 19th. TD Securities lowered their target price on shares of TC Energy from $75.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, February 19th. Finally, Wells Fargo & Company increased their target price on shares of TC Energy from $66.00 to $68.00 and gave the company an “equal weight” rating in a research report on Thursday, May 13th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. TC Energy has a consensus rating of “Buy” and an average target price of $66.14.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 30th. Shareholders of record on Wednesday, June 30th will be paid a dividend of $0.7137 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.69. The ex-dividend date is Tuesday, June 29th. This represents a $2.85 annualized dividend and a yield of 5.37%. TC Energy’s dividend payout ratio (DPR) is 57.96%.
TC Energy Profile
TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Storage segments. The company builds and operates 93,400 km network 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.
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