Cerity Partners LLC Grows Stock Holdings in TC Energy Co. (NYSE:TRP)

Cerity Partners LLC raised its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 72.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,538 shares of the pipeline company’s stock after acquiring an additional 8,660 shares during the quarter. Cerity Partners LLC’s holdings in TC Energy were worth $977,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Canada Pension Plan Investment Board raised its stake in TC Energy by 107.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after purchasing an additional 10,065,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in TC Energy by 156.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after buying an additional 4,126,801 shares in the last quarter. Merewether Investment Management LP bought a new stake in shares of TC Energy during the second quarter valued at approximately $112,618,000. Marshall Wace LLP lifted its holdings in shares of TC Energy by 841.1% in the second quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company’s stock worth $77,349,000 after buying an additional 1,824,008 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of TC Energy during the second quarter worth $50,257,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Trading Up 0.7 %

Shares of NYSE TRP opened at $49.02 on Thursday. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. 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 business’s 50 day moving average is $47.57 and its two-hundred day moving average is $43.79. The stock has a market capitalization of $50.88 billion, a P/E ratio of 13.58, a PEG ratio of 4.05 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last released its 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 firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. As a group, research analysts expect that TC Energy Co. will post 3 EPS for the current year.

TC Energy Increases Dividend

The company 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 $0.822 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 6.71%. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio is currently 78.95%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TRP. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. StockNews.com assumed coverage on TC Energy in a research note on Wednesday. They set a “hold” rating for the company. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group upped their price objective on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and an average price target of $55.67.

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.