Mesirow Financial Investment Management Inc. Increases Position in TC Energy Co. (NYSE:TRP)

Mesirow Financial Investment Management Inc. increased its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.5% in the third quarter, HoldingsChannel.com reports. The fund owned 9,175 shares of the pipeline company’s stock after buying an additional 393 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in TC Energy were worth $436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in TC Energy during the 1st quarter worth approximately $104,000. Atomi Financial Group Inc. purchased a new position in shares of TC Energy during the first quarter worth $219,000. Russell Investments Group Ltd. lifted its position in TC Energy by 0.3% during the first quarter. Russell Investments Group Ltd. now owns 1,262,444 shares of the pipeline company’s stock valued at $50,785,000 after purchasing an additional 3,801 shares during the period. Bleakley Financial Group LLC boosted its holdings in TC Energy by 8.8% in the first quarter. Bleakley Financial Group LLC now owns 124,228 shares of the pipeline company’s stock valued at $4,994,000 after purchasing an additional 10,044 shares during the last quarter. Finally, TD Asset Management Inc grew its position in TC Energy by 9.5% during the 1st quarter. TD Asset Management Inc now owns 16,763,150 shares of the pipeline company’s stock worth $674,366,000 after purchasing an additional 1,458,732 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on TRP. The Goldman Sachs Group boosted their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Veritas raised shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley raised 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, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.50.

TC Energy Trading Up 1.7 %

TRP opened at $49.59 on Tuesday. The business has a fifty day moving average price of $46.64 and a 200 day moving average price of $42.37. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.22. The stock has a market capitalization of $51.47 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 4.04 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.96%. Sell-side analysts expect that TC Energy Co. will post 2.99 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.822 dividend. This represents a $3.29 annualized dividend and a yield of 6.63%. The ex-dividend date is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio is currently 91.14%.

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.