Quantinno Capital Management LP Buys 5,256 Shares of TC Energy Co. (NYSE:TRP)

Quantinno Capital Management LP lifted its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 29.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,845 shares of the pipeline company’s stock after acquiring an additional 5,256 shares during the period. Quantinno Capital Management LP’s holdings in TC Energy were worth $1,087,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Canada Pension Plan Investment Board increased its holdings in shares of TC Energy by 107.1% during the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after acquiring an additional 10,065,000 shares in the last quarter. Legal & General Group Plc increased its stake in TC Energy by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock valued at $450,749,000 after purchasing an additional 467,497 shares in the last quarter. CIBC Asset Management Inc raised its holdings in TC Energy by 2.6% during the second quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock worth $322,584,000 after buying an additional 214,689 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of TC Energy by 156.1% in the third 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. Finally, Merewether Investment Management LP lifted its stake in shares of TC Energy by 37.9% in the third quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock valued at $194,776,000 after buying an additional 1,127,000 shares in the last quarter. 83.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TRP. BMO Capital Markets upped their target price on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Finally, Veritas raised shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $55.67.

TC Energy Stock Performance

Shares of TC Energy stock opened at $46.78 on Friday. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37. The firm has a market capitalization of $48.56 billion, a P/E ratio of 13.10, a P/E/G ratio of 4.03 and a beta of 0.82. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The business has a fifty day simple moving average of $47.66 and a two-hundred day simple moving average of $44.11.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The company had revenue of $2.99 billion during 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, equities analysts forecast that TC Energy Co. will post 3 earnings per share 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 paid a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 7.03%. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio is presently 67.31%.

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.