Jennison Associates LLC Reduces Position in TC Energy Co. (NYSE:TRP)

Jennison Associates LLC decreased its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 485,187 shares of the pipeline company’s stock after selling 36,718 shares during the quarter. Jennison Associates LLC’s holdings in TC Energy were worth $22,601,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TRP. Addenda Capital Inc. raised its position in shares of TC Energy by 4.4% in the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock valued at $48,135,000 after purchasing an additional 43,639 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of TC Energy by 1.3% in the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after buying an additional 242 shares during the last quarter. Ritholtz Wealth Management raised its holdings in TC Energy by 44.8% in the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock valued at $1,115,000 after acquiring an additional 7,412 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in TC Energy during the 3rd quarter valued at $3,771,000. Finally, Harvest Portfolios Group Inc. grew its holdings in TC Energy by 107.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock worth $10,743,000 after acquiring an additional 117,176 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 0.9 %

NYSE:TRP opened at $47.09 on Thursday. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The business has a 50 day simple moving average of $46.88 and a 200 day simple moving average of $46.29. The firm has a market capitalization of $48.93 billion, a P/E ratio of 13.05, a P/E/G ratio of 4.31 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping 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 analyst estimates of $2.83 billion. Equities research analysts predict that TC Energy Co. will post 2.95 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TRP. The Goldman Sachs Group upped their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note 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. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Finally, BMO Capital Markets lifted their price objective 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. 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.