M&G Plc Lowers Stock Position in TC Energy Co. (NYSE:TRP)

M&G PLC lessened its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 15.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,314,219 shares of the pipeline company's stock after selling 409,976 shares during the quarter. M&G PLC owned approximately 0.22% of TC Energy worth $111,083,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in TRP. Fortitude Family Office LLC purchased a new stake in shares of TC Energy in the 3rd quarter worth about $28,000. Blue Trust Inc. increased its position in TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock valued at $30,000 after buying an additional 267 shares in the last quarter. EdgeRock Capital LLC bought a new stake in TC Energy in the second quarter worth $25,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of TC Energy by 138.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company's stock worth $28,000 after acquiring an additional 429 shares during the last quarter. Finally, Mather Group LLC. bought a new position in shares of TC Energy during the second quarter valued at $33,000. 83.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TRP shares. StockNews.com assumed coverage on shares of TC Energy in a research note on Saturday, October 5th. They issued a "hold" rating on the stock. JPMorgan Chase & Co. raised shares of TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday, October 14th. Barclays raised TC Energy from an "equal weight" rating to an "overweight" rating in a research report on Wednesday, July 17th. Veritas raised TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. Finally, Morgan Stanley raised TC Energy from an "underweight" rating to an "overweight" rating in a report on Friday, October 25th. 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $48.50.

TC Energy Stock Performance

NYSE:TRP traded up $1.35 on Thursday, hitting $49.68. The stock had a trading volume of 2,376,194 shares, compared to its average volume of 3,120,220. The business's 50-day simple moving average is $46.51 and its two-hundred day simple moving average is $42.14. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.22. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. The stock has a market cap of $51.56 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 3.89 and a beta of 0.81.

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.