Atlanta Consulting Group Advisors LLC Makes New $884,000 Investment in TC Energy Co. (NYSE:TRP)

Atlanta Consulting Group Advisors LLC purchased a new position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,598 shares of the pipeline company's stock, valued at approximately $884,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRP. Murchinson Ltd. bought a new position in shares of TC Energy during the first quarter valued at $506,485,000. Canada Pension Plan Investment Board lifted its holdings in TC Energy by 107.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company's stock valued at $737,609,000 after purchasing an additional 10,065,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in TC Energy by 94.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company's stock valued at $688,534,000 after buying an additional 8,339,800 shares in the last quarter. Merewether Investment Management LP bought a new stake in TC Energy during the second quarter worth about $112,618,000. Finally, Cardinal Capital Management Inc. increased its holdings in shares of TC Energy by 101.4% during the second quarter. Cardinal Capital Management Inc. now owns 5,068,758 shares of the pipeline company's stock worth $192,024,000 after buying an additional 2,551,926 shares in the last quarter. Institutional investors own 83.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on TRP. StockNews.com began coverage on TC Energy in a research note on Saturday, October 5th. They issued a "hold" rating on the stock. The Goldman Sachs Group increased their price objective on TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a research report on Monday, October 21st. UBS Group raised TC Energy from a "neutral" rating to a "buy" rating in a research note on Monday, September 30th. JPMorgan Chase & Co. upgraded TC Energy from a "neutral" rating to an "overweight" rating in a report on Monday, October 14th. Finally, Veritas raised TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, TC Energy presently has an average rating of "Hold" and a consensus target price of $48.50.

TC Energy Trading Up 0.3 %

TRP traded up $0.14 during mid-day trading on Friday, hitting $48.99. The stock had a trading volume of 1,380,972 shares, compared to its average volume of 1,584,831. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.22. The firm has a market capitalization of $50.84 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. 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 stock's fifty day simple moving average is $46.87 and its 200-day simple moving average is $42.78.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping the consensus estimate 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%. As a group, research analysts forecast that TC Energy Co. will post 2.98 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. Shareholders of record on Tuesday, December 31st will be paid a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a yield of 6.71%. This is an increase from TC Energy's previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy's dividend payout ratio (DPR) is currently 78.95%.

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.