4,964 Shares in TC Energy Co. (NYSE:TRP) Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans bought a new position in TC Energy Co. (NYSE:TRP) (TSE:TRP) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,964 shares of the pipeline company’s stock, valued at approximately $236,000.

Other hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board grew its position in shares of TC Energy by 107.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock worth $737,609,000 after buying an additional 10,065,000 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of TC Energy by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock valued at $450,749,000 after purchasing an additional 467,497 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of TC Energy by 2.6% during the 2nd quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock valued at $322,584,000 after purchasing an additional 214,689 shares during the last quarter. Thornburg Investment Management Inc. boosted its position in shares of TC Energy by 42.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 3,590,617 shares of the pipeline company’s stock worth $136,148,000 after purchasing an additional 1,062,805 shares in the last quarter. Finally, Merewether Investment Management LP acquired a new position in TC Energy during the 2nd quarter valued at about $112,618,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Performance

Shares of TRP stock opened at $48.25 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37. The business’s 50 day moving average is $47.59 and its two-hundred day moving average is $43.83. The company has a market capitalization of $50.08 billion, a P/E ratio of 13.37, a P/E/G ratio of 4.05 and a beta of 0.82.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $2.99 billion for 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 12.92%. Analysts expect that TC Energy Co. will post 3 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a yield of 6.81%. TC Energy’s dividend payout ratio (DPR) is currently 67.31%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. BMO Capital Markets increased their price target on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Finally, StockNews.com assumed coverage on TC Energy in a report on Wednesday. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $55.67.

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.