Assetmark Inc. Acquires 12,073 Shares of TC Energy Co. (NYSE:TRP)

Assetmark Inc. boosted its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 15.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,363 shares of the pipeline company's stock after acquiring an additional 12,073 shares during the period. Assetmark Inc.'s holdings in TC Energy were worth $4,249,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TRP. SG Americas Securities LLC acquired a new position in TC Energy in the 1st quarter valued at $104,000. Atomi Financial Group Inc. bought a new stake in shares of TC Energy during the 1st quarter worth $219,000. Windsor Advisory Group LLC lifted its position in shares of TC Energy by 2.5% during the 1st quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company's stock worth $516,000 after buying an additional 316 shares during the last quarter. M&G Plc bought a new stake in shares of TC Energy during the 1st quarter worth $111,587,000. Finally, Intech Investment Management LLC bought a new position in TC Energy in the first quarter valued at about $1,159,000. Institutional investors own 83.13% of the company's stock.

TC Energy Stock Performance

TRP stock traded up $0.09 during mid-day trading on Wednesday, hitting $48.44. The company had a trading volume of 1,100,364 shares, compared to its average volume of 3,093,817. The firm has a market cap of $50.27 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 4.06 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.22. The stock's fifty day moving average price is $46.75 and its two-hundred day moving average price is $42.55.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, analysts forecast that TC Energy Co. will post 2.98 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.822 dividend. This is a positive change from TC Energy's previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 annualized dividend and a yield of 6.79%. TC Energy's payout ratio is currently 78.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday, October 14th. The Goldman Sachs Group raised their price target on shares of TC Energy from $38.00 to $42.00 and gave the stock a "sell" rating in a report on Monday, October 21st. Veritas upgraded shares of TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. StockNews.com initiated coverage on shares of TC Energy in a report on Saturday, October 5th. They issued a "hold" rating for the company. Finally, Morgan Stanley upgraded shares of TC Energy from an "underweight" rating to an "overweight" rating in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $48.50.

About TC Energy

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.