Bridgewater Associates LP Buys Shares of 55,339 TC Energy Co. (NYSE:TRP)

Bridgewater Associates LP acquired a new position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 55,339 shares of the pipeline company's stock, valued at approximately $2,634,000.

Several other large investors have also made changes to their positions in TRP. Cetera Investment Advisers raised its position in TC Energy by 74.1% in the first quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company's stock valued at $3,972,000 after purchasing an additional 42,024 shares during the last quarter. CIBC Asset Management Inc boosted its position in 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 worth $322,584,000 after buying an additional 214,689 shares during the period. Harvest Portfolios Group Inc. grew its holdings in TC Energy by 107.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company's stock worth $10,743,000 after acquiring an additional 117,176 shares during the last quarter. Metis Global Partners LLC increased its position in TC Energy by 16.3% in the 3rd quarter. Metis Global Partners LLC now owns 95,470 shares of the pipeline company's stock valued at $4,538,000 after acquiring an additional 13,368 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of TC Energy by 4.1% during the second quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company's stock valued at $450,749,000 after acquiring an additional 467,497 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company's stock.

Analysts Set New Price Targets

TRP has been the topic of several analyst reports. The Goldman Sachs Group boosted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a "sell" rating in a research note on Monday, October 21st. Morgan Stanley upgraded TC Energy from an "underweight" rating to an "overweight" rating in a research report on Friday, October 25th. UBS Group upgraded TC Energy from a "neutral" rating to a "buy" rating in a research report on Monday, September 30th. Veritas upgraded TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. upgraded shares of TC Energy from a "neutral" rating to an "overweight" rating in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $55.67.

TC Energy Stock Up 1.1 %

Shares of TRP stock traded up $0.52 on Friday, hitting $48.93. The stock had a trading volume of 1,473,758 shares, compared to its average volume of 1,868,847. 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 has a market cap of $50.79 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 4.08 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 business has a 50 day moving average of $47.49 and a 200 day moving average of $43.58.

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, beating the consensus estimate of $0.70 by $0.06. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. As a group, analysts expect that TC Energy Co. will post 3 EPS for the current 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 paid a dividend of $0.822 per share. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.72%. This is a positive change from TC Energy's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy's payout ratio is presently 67.31%.

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.