Connor Clark & Lunn Investment Management Ltd. Boosts Stake in TC Energy Co. (NYSE:TRP)

Connor Clark & Lunn Investment Management Ltd. increased its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,175,940 shares of the pipeline company's stock after buying an additional 405,965 shares during the period. TC Energy accounts for approximately 1.5% of Connor Clark & Lunn Investment Management Ltd.'s investment portfolio, making the stock its 15th biggest holding. Connor Clark & Lunn Investment Management Ltd. owned about 0.69% of TC Energy worth $333,993,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NTV Asset Management LLC raised its holdings in TC Energy by 4.0% during the fourth quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company's stock worth $288,000 after buying an additional 239 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of TC Energy by 1.3% in the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company's stock worth $871,000 after purchasing an additional 242 shares during the last quarter. Lee Financial Co boosted its position in shares of TC Energy by 3.1% during the fourth quarter. Lee Financial Co now owns 8,185 shares of the pipeline company's stock valued at $381,000 after buying an additional 246 shares during the last quarter. IFP Advisors Inc increased its stake in TC Energy by 7.0% in the 4th quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company's stock valued at $177,000 after buying an additional 249 shares during the last quarter. Finally, Prospera Financial Services Inc grew its position in TC Energy by 4.8% during the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company's stock valued at $274,000 after buying an additional 262 shares during the period. 83.13% of the stock is owned by institutional investors.

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TC Energy Price Performance

Shares of TRP stock traded up $0.06 during trading hours on Thursday, hitting $46.65. 2,248,166 shares of the company's stock were exchanged, compared to its average volume of 2,576,643. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $48.47 billion, a PE ratio of 14.40, a PEG ratio of 4.34 and a beta of 0.83. The business's 50 day simple moving average is $46.26 and its 200-day simple moving average is $46.77. TC Energy Co. has a 12-month low of $34.95 and a 12-month high of $50.37.

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

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.85 per share. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 7.29%. This is a boost from TC Energy's previous quarterly dividend of $0.82. TC Energy's dividend payout ratio is presently 72.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TRP shares. Royal Bank of Canada upped their price objective on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. Veritas raised shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. TD Securities assumed coverage on shares of TC Energy in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Finally, BMO Capital Markets increased their target price 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. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $62.00.

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.