Alberta Investment Management Corp Increases Stake in TC Energy Co. (NYSE:TRP)

Alberta Investment Management Corp boosted its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,868,232 shares of the pipeline company's stock after buying an additional 104,973 shares during the period. TC Energy makes up about 0.9% of Alberta Investment Management Corp's holdings, making the stock its 16th largest holding. Alberta Investment Management Corp owned 0.28% of TC Energy worth $133,600,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TRP. CIBC Asset Management Inc increased its holdings in shares of TC Energy by 8.4% in the 4th quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company's stock worth $331,863,000 after buying an additional 551,980 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in TC Energy by 156.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company's stock valued at $321,778,000 after acquiring an additional 4,126,801 shares during the last quarter. Geode Capital Management LLC raised its position in TC Energy by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company's stock valued at $225,890,000 after purchasing an additional 360,548 shares in the last quarter. Merewether Investment Management LP lifted its stake in TC Energy by 37.9% during the third quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company's stock worth $194,776,000 after purchasing an additional 1,127,000 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in shares of TC Energy by 29.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company's stock worth $152,072,000 after purchasing an additional 722,619 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Trading Down 1.3 %

NYSE:TRP traded down $0.60 during midday trading on Friday, reaching $44.94. 1,638,202 shares of the stock traded hands, compared to its average volume of 2,075,666. The stock has a market capitalization of $46.70 billion, a P/E ratio of 13.87, a PEG ratio of 4.37 and a beta of 0.81. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The company has a fifty day moving average of $46.51 and a 200 day moving average of $46.61.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.51 by $0.54. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period in the prior year, the firm posted $1.35 earnings per share. On average, research analysts predict that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.85 dividend. This is a positive change from TC Energy's previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.57%. The ex-dividend date of this dividend is Monday, March 31st. TC Energy's dividend payout ratio (DPR) is currently 71.91%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TRP shares. Royal Bank of Canada raised their price objective on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a report on Tuesday. BMO Capital Markets lifted their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 20th. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday. Finally, TD Securities started coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

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.