Intech Investment Management LLC Acquires 10,289 Shares of TC Energy Co. (NYSE:TRP)

Intech Investment Management LLC lifted its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 31.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 43,225 shares of the pipeline company’s stock after purchasing an additional 10,289 shares during the period. Intech Investment Management LLC’s holdings in TC Energy were worth $2,057,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC bought a new position in shares of TC Energy in the third quarter worth $28,000. Blue Trust Inc. increased its holdings in shares of TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after buying an additional 267 shares during the last quarter. EdgeRock Capital LLC bought a new position in shares of TC Energy in the 2nd quarter worth $25,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 429 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in TC Energy in the second quarter worth $33,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. BMO Capital Markets raised their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Finally, The Goldman Sachs Group boosted their target price on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $55.67.

TC Energy Trading Down 0.8 %

Shares of NYSE TRP opened at $49.85 on Monday. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37. The firm has a 50-day moving average of $47.22 and a 200 day moving average of $43.26. The stock has a market cap of $51.74 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 4.22 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. The company had revenue of $2.99 billion for 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%. As a group, sell-side analysts expect that TC Energy Co. will post 2.98 EPS 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. Shareholders of record on Tuesday, December 31st will be given a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is 67.31%.

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.