Connor Clark & Lunn Investment Management Ltd. Acquires 4,126,801 Shares of TC Energy Co. (NYSE:TRP)

Connor Clark & Lunn Investment Management Ltd. increased its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 156.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,769,975 shares of the pipeline company's stock after acquiring an additional 4,126,801 shares during the quarter. TC Energy makes up about 1.6% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 15th biggest holding. Connor Clark & Lunn Investment Management Ltd. owned 0.65% of TC Energy worth $321,778,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of TRP. Fortitude Family Office LLC acquired a new position in TC Energy during the third quarter worth approximately $28,000. Blue Trust Inc. raised its stake in TC Energy by 72.0% during 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. EdgeRock Capital LLC bought a new stake in shares of TC Energy during the second quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. raised its holdings in TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company's stock worth $28,000 after buying an additional 429 shares during the period. Finally, Mather Group LLC. acquired a new position in shares of TC Energy in the second quarter worth $33,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Price Performance

TRP traded down $0.62 during midday trading on Wednesday, reaching $49.21. 2,492,570 shares of the company's stock were exchanged, compared to its average volume of 3,071,543. The stock has a market capitalization of $51.07 billion, a PE ratio of 13.63, a P/E/G ratio of 4.12 and a beta of 0.81. The business's 50-day moving average price is $47.01 and its 200 day moving average price is $43.01. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.22. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced 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. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. As a group, equities analysts anticipate that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.822 dividend. This is an increase from TC Energy's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 6.68%. TC Energy's dividend payout ratio is presently 67.31%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. The Goldman Sachs Group raised their target price on TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a research note on Monday, October 21st. Veritas raised TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. raised shares of TC Energy from a "neutral" rating to an "overweight" rating in a research note on Monday, October 14th. Morgan Stanley raised shares of TC Energy from an "underweight" rating to an "overweight" rating in a research report on Friday, October 25th. Finally, StockNews.com assumed coverage on TC Energy in a research report on Monday. They issued a "hold" rating for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $55.67.

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.