M&G Plc Sells 409,976 Shares of TC Energy Co. (NYSE:TRP)

M&G Plc cut its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 15.0% in the third quarter, Holdings Channel reports. The institutional investor owned 2,314,219 shares of the pipeline company’s stock after selling 409,976 shares during the period. M&G Plc’s holdings in TC Energy were worth $111,083,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fortitude Family Office LLC bought a new position in shares of TC Energy during the third quarter worth about $28,000. Blue Trust Inc. grew its stake in TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares in the last quarter. EdgeRock Capital LLC bought a new position in TC Energy in the second quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. grew its stake in TC Energy by 138.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 429 shares in the last quarter. Finally, Mather Group LLC. bought a new position in TC Energy in the second quarter valued at approximately $33,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Performance

NYSE:TRP opened at $48.34 on Thursday. The stock has a market cap of $50.16 billion, a P/E ratio of 19.81, a PEG ratio of 3.89 and a beta of 0.81. The stock has a 50 day simple moving average of $46.51 and a 200 day simple moving average of $42.14. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $48.35.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TRP. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. StockNews.com started coverage on TC Energy in a research report on Saturday, October 5th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group raised their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, TC Energy has a consensus rating of “Hold” and an average price target of $48.50.

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.