TC Energy Co. (NYSE:TRP) Shares Bought by Merewether Investment Management LP

Merewether Investment Management LP increased its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 37.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,097,600 shares of the pipeline company’s stock after acquiring an additional 1,127,000 shares during the quarter. TC Energy comprises about 9.0% of Merewether Investment Management LP’s holdings, making the stock its largest position. Merewether Investment Management LP’s holdings in TC Energy were worth $194,776,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. lifted its stake in shares of TC Energy by 38.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 7,253 shares of the pipeline company’s stock worth $292,000 after acquiring an additional 2,003 shares during the period. Cetera Investment Advisers raised its stake in TC Energy by 74.1% during the first quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock worth $3,972,000 after buying an additional 42,024 shares during the last quarter. Cetera Advisors LLC boosted its position in TC Energy by 499.4% during the first quarter. Cetera Advisors LLC now owns 47,707 shares of the pipeline company’s stock valued at $1,919,000 after acquiring an additional 39,748 shares during the last quarter. Mather Group LLC. acquired a new stake in TC Energy during the 2nd quarter worth about $33,000. Finally, Simplicity Wealth LLC raised its position in shares of TC Energy by 1.9% in the 2nd quarter. Simplicity Wealth LLC now owns 126,501 shares of the pipeline company’s stock worth $4,794,000 after acquiring an additional 2,329 shares in the last quarter. 83.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TRP shares. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. The Goldman Sachs Group upped their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. StockNews.com began coverage on TC Energy in a research note on Wednesday. They issued a “hold” rating for the company. Finally, UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Two 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, the stock currently has an average rating of “Hold” and an average price target of $55.67.

TC Energy Stock Up 0.1 %

TRP stock opened at $48.65 on Wednesday. The firm has a market capitalization of $50.50 billion, a PE ratio of 13.48, a P/E/G ratio of 4.05 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 twelve month low of $31.83 and a twelve month high of $50.37. The stock’s 50 day moving average is $47.55 and its 200-day moving average is $43.75.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data 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. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. Sell-side analysts expect that TC Energy Co. will post 3 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.822 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 annualized dividend and a yield of 6.76%. TC Energy’s dividend payout ratio (DPR) is 78.95%.

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.