Lansforsakringar Fondforvaltning AB publ Has $12.77 Million Position in TC Energy Corporation $TRP

Lansforsakringar Fondforvaltning AB publ grew its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 7.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 234,810 shares of the pipeline company’s stock after purchasing an additional 15,477 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in TC Energy were worth $12,770,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC boosted its position in TC Energy by 54.0% in the first quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock valued at $538,000 after buying an additional 3,892 shares in the last quarter. Focus Partners Wealth raised its stake in shares of TC Energy by 46.1% in the first quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock valued at $588,000 after acquiring an additional 3,929 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of TC Energy by 200.7% in the 1st quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock worth $1,269,000 after acquiring an additional 17,939 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in TC Energy by 4.6% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 40,078 shares of the pipeline company’s stock worth $1,955,000 after acquiring an additional 1,768 shares during the last quarter. Finally, Ingalls & Snyder LLC grew its position in TC Energy by 3.8% during the 2nd quarter. Ingalls & Snyder LLC now owns 21,815 shares of the pipeline company’s stock worth $1,064,000 after acquiring an additional 800 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Up 1.2%

TC Energy stock opened at $63.17 on Tuesday. The company has a 50 day moving average of $57.13 and a 200-day moving average of $54.16. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 1.66. TC Energy Corporation has a twelve month low of $43.59 and a twelve month high of $63.94. The stock has a market capitalization of $65.77 billion, a PE ratio of 27.18 and a beta of 0.73.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the business posted $1.05 EPS. On average, equities research analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.8775 per share. The ex-dividend date is Tuesday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 dividend on an annualized basis and a yield of 5.6%. TC Energy’s dividend payout ratio is 106.90%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. TD Securities lowered TC Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a report on Tuesday, February 17th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $72.50.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.