Infrastructure Capital Advisors LLC Increases Stock Position in TC Energy Co. (NYSE:TRP)

Infrastructure Capital Advisors LLC grew its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 105.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 116,273 shares of the pipeline company’s stock after buying an additional 59,719 shares during the period. TC Energy accounts for approximately 0.7% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 27th biggest holding. Infrastructure Capital Advisors LLC’s holdings in TC Energy were worth $5,529,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board boosted its position in TC Energy by 107.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock worth $737,609,000 after purchasing an additional 10,065,000 shares during the period. Legal & General Group Plc boosted its position in TC Energy by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock worth $450,749,000 after purchasing an additional 467,497 shares during the period. CIBC Asset Management Inc boosted its position in TC Energy by 2.6% during the 2nd quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock worth $322,584,000 after purchasing an additional 214,689 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in 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 purchasing an additional 4,126,801 shares during the period. Finally, Cardinal Capital Management Inc. boosted its position in TC Energy by 101.4% during the 2nd quarter. Cardinal Capital Management Inc. now owns 5,068,758 shares of the pipeline company’s stock worth $192,024,000 after purchasing an additional 2,551,926 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

Shares of NYSE:TRP opened at $48.41 on Friday. 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 fifty-two week low of $31.83 and a fifty-two week high of $50.37. The firm has a 50-day simple moving average of $47.43 and a 200 day simple moving average of $43.48. The company has a market cap of $50.25 billion, a PE ratio of 13.41, a P/E/G ratio of 4.03 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its 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 firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. On average, sell-side analysts anticipate that TC Energy Co. will post 3 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.822 dividend. This is a boost 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 6.79%. TC Energy’s dividend payout ratio is 78.95%.

Analysts Set New Price Targets

TRP has been the subject of a number of research reports. BMO Capital Markets upped their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Finally, StockNews.com initiated coverage on shares of TC Energy in a report on Tuesday. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, TC Energy currently has a consensus rating of “Hold” and a consensus target price of $55.67.

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.