Jennison Associates LLC purchased a new stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 521,905 shares of the pipeline company's stock, valued at approximately $24,808,000. Jennison Associates LLC owned approximately 0.05% of TC Energy as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of TRP. SG Americas Securities LLC acquired a new position in TC Energy during the 1st quarter valued at about $104,000. O Shaughnessy Asset Management LLC increased its stake in TC Energy by 13.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 31,818 shares of the pipeline company's stock valued at $1,279,000 after purchasing an additional 3,758 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of TC Energy by 178.0% in the first quarter. Bessemer Group Inc. now owns 36,117 shares of the pipeline company's stock worth $1,451,000 after buying an additional 23,125 shares during the last quarter. Natixis acquired a new stake in shares of TC Energy during the first quarter worth $270,000. Finally, Energy Income Partners LLC grew its holdings in shares of TC Energy by 13.1% during the first quarter. Energy Income Partners LLC now owns 1,393,532 shares of the pipeline company's stock valued at $56,020,000 after buying an additional 161,883 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.
A number of analysts have commented on TRP shares. UBS Group raised TC Energy from a "neutral" rating to a "buy" rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised TC Energy from a "neutral" rating to an "overweight" rating in a report on Monday, October 14th. BMO Capital Markets upped their target price on TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a research report on Wednesday. Morgan Stanley raised shares of TC Energy from an "underweight" rating to an "overweight" rating in a research report on Friday, October 25th. Finally, Veritas raised shares of TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, TC Energy has an average rating of "Hold" and an average target price of $55.67.
Check Out Our Latest Analysis on TRP
TRP opened at $49.86 on Friday. The stock has a market cap of $51.75 billion, a P/E ratio of 13.81, a P/E/G ratio of 4.19 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The firm has a fifty day moving average price of $47.22 and a 200 day moving average price of $43.18. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted 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. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. Equities research analysts anticipate that TC Energy Co. will post 2.98 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. This represents a $3.29 annualized dividend and a dividend yield of 6.59%. This is an increase from TC Energy's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy's dividend payout ratio is presently 78.95%.
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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