Marshall Wace LLP Increases Stock Position in TC Energy Co. (NYSE:TRP)

Marshall Wace LLP boosted its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 841.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,040,863 shares of the pipeline company’s stock after acquiring an additional 1,824,008 shares during the period. Marshall Wace LLP’s holdings in TC Energy were worth $77,349,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new stake in shares of TC Energy during the 2nd quarter worth about $25,000. Creekmur Asset Management LLC acquired a new position in TC Energy in the 4th quarter worth about $27,000. Whittier Trust Co. of Nevada Inc. boosted its position in TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 429 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in TC Energy in the fourth quarter valued at approximately $31,000. Finally, Mather Group LLC. acquired a new stake in TC Energy in the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TRP shares. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. StockNews.com initiated coverage on shares of TC Energy in a research report on Thursday, September 19th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, TC Energy has an average rating of “Hold” and an average target price of $43.50.

TC Energy Stock Performance

NYSE TRP opened at $47.04 on Wednesday. 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 1-year low of $32.51 and a 1-year high of $47.42. The company has a market cap of $48.80 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 3.83 and a beta of 0.81. The stock’s 50 day simple moving average is $44.32 and its 200-day simple moving average is $40.47.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the firm posted $0.71 EPS. As a group, equities research analysts anticipate that TC Energy Co. will post 3.08 EPS for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.702 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a yield of 5.97%. TC Energy’s payout ratio is presently 144.85%.

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.