Intech Investment Management LLC Has $2.06 Million Holdings in TC Energy Co. (NYSE:TRP)

Intech Investment Management LLC grew its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 31.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,225 shares of the pipeline company’s stock after buying an additional 10,289 shares during the period. Intech Investment Management LLC’s holdings in TC Energy were worth $2,057,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new position in TC Energy during the 2nd quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. raised its stake in TC Energy by 138.8% during the second 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 TC Energy in the third quarter valued at $28,000. Blue Trust Inc. boosted its position in TC Energy by 72.0% during the third 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. acquired a new stake in TC Energy during the 2nd quarter worth about $33,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Performance

TRP opened at $49.85 on Monday. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. 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. The company’s fifty day moving average price is $47.22 and its two-hundred day moving average price is $43.26. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78.

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

TC Energy Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented 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. Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. BMO Capital Markets lifted their price objective on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Finally, StockNews.com assumed coverage on shares of TC Energy in a research note on Monday, November 18th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $55.67.

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.