PDT Partners LLC Takes Position in TC Energy Co. (NYSE:TRP)

PDT Partners LLC purchased a new stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 51,944 shares of the pipeline company's stock, valued at approximately $2,470,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRP. EdgeRock Capital LLC bought a new position in TC Energy during the second quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. raised its position in TC Energy by 138.8% in the second 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 period. Fortitude Family Office LLC bought a new position in TC Energy in the third quarter worth approximately $28,000. Blue Trust Inc. raised its position in TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock worth $30,000 after acquiring an additional 267 shares during the period. Finally, Mather Group LLC. bought a new position in TC Energy in the second quarter worth approximately $33,000. Institutional investors own 83.13% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TRP shares. UBS Group upgraded shares of TC Energy from a "neutral" rating to a "buy" rating in a research report on Monday, September 30th. StockNews.com started coverage on shares of TC Energy in a research note on Tuesday, November 26th. They issued a "hold" rating for the company. Veritas raised shares of TC Energy to a "strong sell" rating in a research note on Tuesday, October 8th. BMO Capital Markets raised their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group raised their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $55.67.

TC Energy Price Performance

Shares of NYSE:TRP traded up $0.52 on Friday, reaching $48.93. The company's stock had a trading volume of 1,473,758 shares, compared to its average volume of 1,868,847. The company has a 50-day simple moving average of $47.49 and a 200 day simple moving average of $43.62. The company has a market cap of $50.79 billion, a P/E ratio of 13.55, a PEG ratio of 4.08 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. As a group, equities research analysts anticipate that TC Energy Co. will post 3 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. This is a positive change from TC Energy's previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.72%. TC Energy's dividend payout ratio (DPR) is presently 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.