International Assets Investment Management LLC bought a new stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 63,808 shares of the pipeline company's stock, valued at approximately $3,034,000.
Several other institutional investors have also recently bought and sold shares of the company. Murchinson Ltd. bought a new stake in shares of TC Energy in the first quarter worth $506,485,000. Canada Pension Plan Investment Board lifted its position in TC Energy by 107.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company's stock worth $737,609,000 after buying an additional 10,065,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of TC Energy by 94.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company's stock worth $688,534,000 after buying an additional 8,339,800 shares during the last quarter. Merewether Investment Management LP bought a new position in shares of TC Energy in the 2nd quarter valued at about $112,618,000. Finally, M&G Plc acquired a new stake in shares of TC Energy in the first quarter valued at about $111,587,000. Institutional investors own 83.13% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently commented on the company. StockNews.com started coverage on TC Energy in a research report on Saturday, October 5th. They set a "hold" rating for the company. Barclays raised shares of TC Energy from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, July 17th. UBS Group raised shares of TC Energy from a "neutral" rating to a "buy" rating in a research report on Monday, September 30th. Veritas raised shares of TC Energy to a "strong sell" rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley raised shares of 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 assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $48.50.
Check Out Our Latest Report on TRP
TC Energy Stock Performance
Shares of NYSE:TRP traded down $0.21 on Friday, hitting $46.30. The company had a trading volume of 1,213,526 shares, compared to its average volume of 2,436,758. The stock has a 50 day moving average price of $46.39 and a 200 day moving average price of $41.93. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The stock has a market cap of $48.05 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 3.85 and a beta of 0.81. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $48.25.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The firm had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.78 billion. During the same period in the prior year, the firm earned $0.71 EPS. Analysts expect that TC Energy Co. will post 3.02 EPS for the current year.
TC Energy Profile
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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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