Public Sector Pension Investment Board Has $6.46 Million Stock Holdings in TC Energy Co. (NYSE:TRP)

Public Sector Pension Investment Board lowered its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 135,710 shares of the pipeline company’s stock after selling 4,919 shares during the period. Public Sector Pension Investment Board’s holdings in TC Energy were worth $6,458,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Cetera Investment Advisers grew its position in TC Energy by 74.1% in the first quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock valued at $3,972,000 after acquiring an additional 42,024 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of TC Energy by 2.6% during the 2nd quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock valued at $322,584,000 after purchasing an additional 214,689 shares during the last quarter. Harvest Portfolios Group Inc. increased its position in TC Energy by 107.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock worth $10,743,000 after purchasing an additional 117,176 shares in the last quarter. Metis Global Partners LLC lifted its stake in TC Energy by 16.3% in the 3rd quarter. Metis Global Partners LLC now owns 95,470 shares of the pipeline company’s stock valued at $4,538,000 after purchasing an additional 13,368 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in TC Energy by 4.1% in the second quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock valued at $450,749,000 after buying an additional 467,497 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. The Goldman Sachs Group increased their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. Veritas upgraded TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. StockNews.com started coverage on shares of TC Energy in a report on Tuesday, November 26th. They issued a “hold” rating for the company. Finally, Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $55.67.

TC Energy Stock Performance

NYSE:TRP opened at $48.93 on Friday. The company has a market capitalization of $50.79 billion, a PE ratio of 13.55, a P/E/G ratio of 4.03 and a beta of 0.81. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The company has a 50 day simple moving average of $47.49 and a two-hundred day simple moving average of $43.58.

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

TC Energy Increases Dividend

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

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.