Charles Schwab Investment Management Inc. Increases Stock Position in TC Energy Co. (NYSE:TRP)

Charles Schwab Investment Management Inc. increased its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,812,692 shares of the pipeline company’s stock after buying an additional 98,245 shares during the period. Charles Schwab Investment Management Inc.’s holdings in TC Energy were worth $133,845,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its stake in shares of TC Energy by 74.1% in the 1st quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock valued at $3,972,000 after purchasing an additional 42,024 shares in the last quarter. CIBC Asset Management Inc raised its holdings in TC Energy by 2.6% in the second quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock valued at $322,584,000 after buying an additional 214,689 shares during the period. Harvest Portfolios Group Inc. lifted its position in TC Energy by 107.7% during the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after buying an additional 117,176 shares in the last quarter. Metis Global Partners LLC grew its stake in TC Energy by 16.3% during the third quarter. Metis Global Partners LLC now owns 95,470 shares of the pipeline company’s stock worth $4,538,000 after buying an additional 13,368 shares during the period. Finally, Legal & General Group Plc increased its position in shares of 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 worth $450,749,000 after acquiring an additional 467,497 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of TRP opened at $49.85 on Monday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The firm’s 50 day moving average is $47.22 and its 200-day moving average is $43.26. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37. The stock has a market capitalization of $51.74 billion, a P/E ratio of 13.81, a P/E/G ratio of 4.22 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. Equities research analysts anticipate that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.60%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is currently 67.31%.

Analyst Ratings Changes

TRP has been the subject of a number of research reports. StockNews.com began coverage on shares of TC Energy in a research report on Monday, November 18th. They set a “hold” rating for the company. The Goldman Sachs Group increased 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. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.67.

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.