Charles Schwab Investment Management Inc. Increases Stake in TC Energy Co. (NYSE:TRP)

Charles Schwab Investment Management Inc. lifted its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,812,692 shares of the pipeline company’s stock after buying an additional 98,245 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.27% of TC Energy worth $133,845,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. EdgeRock Capital LLC acquired a new position in shares of TC Energy during the second quarter worth $25,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after buying an additional 429 shares during the last quarter. Fortitude Family Office LLC acquired a new position in shares of TC Energy during the 3rd quarter worth about $28,000. Blue Trust Inc. increased its holdings in shares of TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 267 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in shares of TC Energy in the 2nd quarter valued at about $33,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Down 0.8 %

Shares of NYSE:TRP opened at $49.85 on Monday. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The firm’s 50-day simple moving average is $47.22 and its 200-day simple moving average is $43.26. The company has a market cap of $51.74 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 4.22 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. As a group, equities research analysts predict that TC Energy Co. will post 2.98 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.60%. The ex-dividend date is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is currently 67.31%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TRP shares. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. The Goldman Sachs Group boosted their price target on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. StockNews.com started coverage on TC Energy in a report on Monday, November 18th. They set a “hold” rating on the stock. Finally, Veritas raised TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, TC Energy has a consensus rating of “Hold” and a consensus target price of $55.67.

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.