TC Energy Co. (NYSE:TRP) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC increased its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 14.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,936 shares of the pipeline company’s stock after buying an additional 4,127 shares during the quarter. Intech Investment Management LLC’s holdings in TC Energy were worth $1,248,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Corient Private Wealth LLC raised its holdings in shares of TC Energy by 25.3% during the fourth quarter. Corient Private Wealth LLC now owns 18,832 shares of the pipeline company’s stock worth $736,000 after purchasing an additional 3,808 shares during the last quarter. United Services Automobile Association raised its stake in shares of TC Energy by 12.0% during the 4th quarter. United Services Automobile Association now owns 33,123 shares of the pipeline company’s stock valued at $1,294,000 after buying an additional 3,557 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of TC Energy by 32.1% in the 4th quarter. TD Asset Management Inc now owns 15,304,418 shares of the pipeline company’s stock valued at $600,756,000 after buying an additional 3,717,342 shares during the period. Bank of Nova Scotia Trust Co. boosted its stake in shares of TC Energy by 0.9% in the fourth quarter. Bank of Nova Scotia Trust Co. now owns 774,196 shares of the pipeline company’s stock worth $30,263,000 after buying an additional 6,987 shares during the last quarter. Finally, Gold Investment Management Ltd. acquired a new stake in TC Energy during the fourth quarter worth about $345,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

TC Energy Trading Down 0.2 %

Shares of NYSE:TRP opened at $47.04 on Wednesday. The business’s 50 day moving average price is $44.32 and its 200-day moving average price is $40.47. TC Energy Co. has a 1 year low of $32.51 and a 1 year high of $47.42. The firm has a market capitalization of $47.04 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 3.81 and a beta of 0.81. 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 (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.29. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same period last year, the firm posted $0.71 earnings per share. On average, equities research analysts forecast that TC Energy Co. will post 3.06 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a $0.702 dividend. This represents a $2.81 annualized dividend and a yield of 5.97%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is 146.39%.

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.