Intact Investment Management Inc. Decreases Stock Position in TC Energy Co. (NYSE:TRP)

Intact Investment Management Inc. decreased its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 65.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 471,304 shares of the pipeline company's stock after selling 879,930 shares during the quarter. Intact Investment Management Inc.'s holdings in TC Energy were worth $22,406,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in shares of TC Energy in the 1st quarter worth approximately $1,159,000. M&G Plc acquired a new position in shares of TC Energy during the 1st quarter worth $111,587,000. Cetera Investment Advisers boosted its position in shares of TC Energy by 74.1% in the 1st quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company's stock worth $3,972,000 after buying an additional 42,024 shares in the last quarter. Headlands Technologies LLC grew its stake in TC Energy by 49,890.3% in the 1st quarter. Headlands Technologies LLC now owns 15,497 shares of the pipeline company's stock valued at $623,000 after acquiring an additional 15,466 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in TC Energy by 2.6% during the 2nd quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company's stock valued at $322,584,000 after acquiring an additional 214,689 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Trading Up 1.3 %

TC Energy stock traded up $0.62 during trading on Monday, hitting $46.92. The company's stock had a trading volume of 1,498,912 shares, compared to its average volume of 3,135,401. The stock's fifty day moving average is $46.39 and its 200 day moving average is $41.93. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $48.25. The stock has a market capitalization of $48.70 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 (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.29. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same quarter last year, the business earned $0.71 EPS. As a group, equities research analysts predict that TC Energy Co. will post 3.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. raised shares of TC Energy from a "neutral" rating to an "overweight" rating in a report on Monday, October 14th. UBS Group upgraded TC Energy from a "neutral" rating to a "buy" rating in a report on Monday, September 30th. Barclays raised TC Energy from an "equal weight" rating to an "overweight" rating in a report on Wednesday, July 17th. Morgan Stanley raised TC Energy from an "underweight" rating to an "overweight" rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group boosted their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of "Hold" and a consensus price target of $48.50.

TC Energy Company 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.