FMR LLC lifted its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 2,821.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 574,427 shares of the pipeline company's stock after acquiring an additional 554,767 shares during the quarter. FMR LLC owned approximately 0.06% of TC Energy worth $27,311,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. CIBC Asset Management Inc increased its stake in shares of TC Energy by 2.6% in the second quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company's stock worth $322,584,000 after acquiring an additional 214,689 shares during the last quarter. Harvest Portfolios Group Inc. boosted its holdings in TC Energy by 107.7% in the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company's stock worth $10,743,000 after purchasing an additional 117,176 shares in the last quarter. Metis Global Partners LLC boosted its holdings in TC Energy by 16.3% in the third quarter. Metis Global Partners LLC now owns 95,470 shares of the pipeline company's stock worth $4,538,000 after purchasing an additional 13,368 shares in the last quarter. Legal & General Group Plc boosted its holdings in TC Energy by 4.1% in the second quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company's stock worth $450,749,000 after purchasing an additional 467,497 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new stake in TC Energy in the third quarter worth $530,000. 83.13% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have issued reports on TRP shares. JPMorgan Chase & Co. upgraded shares of TC Energy from a "neutral" rating to an "overweight" rating in a report on Monday, October 14th. Veritas upgraded shares of TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. UBS Group upgraded shares of TC Energy from a "neutral" rating to a "buy" rating in a report on Monday, September 30th. Morgan Stanley upgraded shares of TC Energy from an "underweight" rating to an "overweight" rating in a report on Friday, October 25th. Finally, BMO Capital Markets upped their price target on shares of TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a report on Wednesday, November 20th. 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. According to data from MarketBeat, TC Energy has an average rating of "Hold" and a consensus target price of $55.67.
View Our Latest Stock Report on TC Energy
TC Energy Stock Performance
TRP stock traded down $0.18 during trading on Tuesday, reaching $47.19. 4,083,295 shares of the stock were exchanged, compared to its average volume of 3,029,954. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37. The company has a market capitalization of $48.98 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 4.03 and a beta of 0.82. The stock has a 50 day simple moving average of $47.62 and a 200-day simple moving average of $44.02. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78.
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 for the quarter, topping analysts' consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. As a group, sell-side analysts anticipate that TC Energy Co. will post 3 earnings per share for the current year.
TC Energy Increases Dividend
The firm 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 dividend of $0.822 per share. This is a boost from TC Energy's previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.97%. TC Energy's dividend payout ratio (DPR) is currently 67.31%.
About TC Energy
(
Free Report)
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.
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