TC Energy Co. (NYSE:TRP) Shares Purchased by Fractal Investments LLC

Fractal Investments LLC increased its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 38.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 344,000 shares of the pipeline company’s stock after acquiring an additional 95,000 shares during the quarter. TC Energy makes up about 2.4% of Fractal Investments LLC’s portfolio, making the stock its 12th biggest holding. Fractal Investments LLC’s holdings in TC Energy were worth $16,006,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in 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 valued at $321,778,000 after purchasing an additional 4,126,801 shares during the last quarter. Geode Capital Management LLC raised its position in shares of TC Energy by 8.3% in the third 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 last quarter. 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 worth $194,776,000 after buying an additional 1,127,000 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its position 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 last quarter. Finally, Swiss National Bank grew its stake in TC Energy by 0.8% during the 3rd quarter. Swiss National Bank now owns 3,137,901 shares of the pipeline company’s stock valued at $149,401,000 after acquiring an additional 24,800 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Performance

NYSE:TRP opened at $47.09 on Thursday. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The company has a 50 day moving average price of $46.85 and a 200 day moving average price of $46.29. The stock has a market capitalization of $48.93 billion, a P/E ratio of 13.05, a PEG ratio of 4.31 and a beta of 0.81.

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 return on equity of 12.92% and a net margin of 31.15%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. Equities research analysts forecast that TC Energy Co. will post 2.95 EPS for the current year.

Analysts Set New Price Targets

TRP has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. StockNews.com began coverage on TC Energy in a report on Wednesday, December 4th. They set a “hold” rating on the stock. BMO Capital Markets upped their price objective on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Finally, US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and a consensus price target of $56.00.

TC Energy 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.