51,944 Shares in TC Energy Co. (NYSE:TRP) Acquired by PDT Partners LLC

PDT Partners LLC purchased a new stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 51,944 shares of the pipeline company’s stock, valued at approximately $2,470,000.

Several other large investors have also added to or reduced their stakes in the company. Cetera Investment Advisers raised its position in shares of TC Energy by 74.1% during the 1st quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock valued at $3,972,000 after purchasing an additional 42,024 shares during the period. CIBC Asset Management Inc raised its holdings in TC Energy by 2.6% during the second quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock valued at $322,584,000 after acquiring an additional 214,689 shares during the period. Harvest Portfolios Group Inc. lifted its position in shares of TC Energy by 107.7% in the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after acquiring an additional 117,176 shares in the last quarter. Metis Global Partners LLC lifted its position in shares of TC Energy by 16.3% in the third quarter. Metis Global Partners LLC now owns 95,470 shares of the pipeline company’s stock valued at $4,538,000 after acquiring an additional 13,368 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of TC Energy by 4.1% during the second quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock worth $450,749,000 after purchasing an additional 467,497 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TRP shares. StockNews.com started coverage on TC Energy in a report on Tuesday, November 26th. They issued a “hold” rating on the stock. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. BMO Capital Markets boosted their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group increased their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, TC Energy has a consensus rating of “Hold” and an average target price of $55.67.

TC Energy Price Performance

TRP stock opened at $48.93 on Friday. The company has a fifty day simple moving average of $47.49 and a two-hundred day simple moving average of $43.58. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $50.79 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 4.08 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. Analysts anticipate that TC Energy Co. will post 3 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 6.72%. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is currently 78.95%.

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.