TC Energy Co. (NYSE:TRP) Stock Holdings Increased by Addenda Capital Inc.

Addenda Capital Inc. grew its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,034,497 shares of the pipeline company’s stock after buying an additional 43,639 shares during the period. TC Energy comprises 2.2% of Addenda Capital Inc.’s portfolio, making the stock its 12th largest position. Addenda Capital Inc.’s holdings in TC Energy were worth $48,135,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc lifted its stake in TC Energy by 4.1% during the second quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock worth $450,749,000 after purchasing an additional 467,497 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of TC Energy by 156.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after buying an additional 4,126,801 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of TC Energy by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock valued at $225,890,000 after buying an additional 360,548 shares during the period. Merewether Investment Management LP grew its position in shares of TC Energy by 37.9% during the 3rd 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 during the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its stake in TC Energy by 29.2% during the third quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock worth $152,072,000 after acquiring an additional 722,619 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

TRP stock opened at $47.39 on Tuesday. The company has a 50-day simple moving average of $47.59 and a 200 day simple moving average of $45.67. The company has a market capitalization of $49.25 billion, a P/E ratio of 13.13, a PEG ratio of 4.47 and a beta of 0.82. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.83 billion. Sell-side analysts predict that TC Energy Co. will post 2.95 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a dividend yield of 6.94%. TC Energy’s dividend payout ratio (DPR) is 63.43%.

Analyst Ratings Changes

A number of equities analysts have commented on TRP shares. Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. 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 research note on Monday, October 21st. StockNews.com started coverage on TC Energy in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Two research 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, TC Energy has a consensus rating of “Hold” and an average target price 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.