Alberta Investment Management Corp Has $133.60 Million Position in TC Energy Co. (NYSE:TRP)

Alberta Investment Management Corp raised its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,868,232 shares of the pipeline company’s stock after purchasing an additional 104,973 shares during the quarter. TC Energy makes up approximately 0.9% of Alberta Investment Management Corp’s investment portfolio, making the stock its 16th largest holding. Alberta Investment Management Corp owned approximately 0.28% of TC Energy worth $133,600,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TRP. CIBC Asset Management Inc boosted its holdings in shares of TC Energy by 8.4% during the 4th quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company’s stock worth $331,863,000 after buying an additional 551,980 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of 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 worth $321,778,000 after buying an additional 4,126,801 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of TC Energy by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock worth $225,890,000 after buying an additional 360,548 shares in the last quarter. Merewether Investment Management LP boosted its holdings 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 worth $194,776,000 after buying an additional 1,127,000 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in shares of TC Energy by 29.2% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock worth $152,072,000 after buying an additional 722,619 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Trading Up 1.0 %

Shares of TRP opened at $46.38 on Wednesday. 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 firm has a market cap of $48.19 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 4.35 and a beta of 0.81. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The business has a 50-day moving average of $46.56 and a 200 day moving average of $46.63.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a return on equity of 11.95% and a net margin of 29.40%. During the same quarter in the previous year, the firm earned $1.35 EPS. As a group, research analysts forecast that TC Energy Co. will post 2.64 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.85 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a yield of 7.33%. TC Energy’s payout ratio is presently 70.68%.

Wall Street Analyst Weigh In

TRP has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price target on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. BMO Capital Markets raised their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. TD Securities began coverage on TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $62.00.

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.