Alberta Investment Management Corp Raises Stock Holdings in TC Energy Co. (NYSE:TRP)

Alberta Investment Management Corp grew its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.8% during the 4th quarter, HoldingsChannel reports. The fund owned 2,868,232 shares of the pipeline company’s stock after purchasing an additional 104,973 shares during the quarter. TC Energy comprises 0.9% of Alberta Investment Management Corp’s holdings, making the stock its 16th biggest position. Alberta Investment Management Corp’s holdings in TC Energy were worth $133,600,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Global Retirement Partners LLC lifted its holdings in TC Energy by 7.2% in the fourth quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company’s stock valued at $191,000 after acquiring an additional 274 shares during the period. Lorne Steinberg Wealth Management Inc. grew its holdings in TC Energy by 1.1% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 178,069 shares of the pipeline company’s stock valued at $8,290,000 after buying an additional 1,967 shares in the last quarter. Pinnbrook Capital Management LP purchased a new position in shares of TC Energy in the 4th quarter worth approximately $8,907,000. D.A. Davidson & CO. purchased a new position in shares of TC Energy in the 4th quarter worth approximately $297,000. Finally, CIBC Asset Management Inc lifted its stake 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 acquiring an additional 551,980 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Trading Up 1.0 %

NYSE TRP opened at $46.38 on Wednesday. The firm has a 50 day simple moving average of $46.56 and a 200-day simple moving average of $46.63. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37. The firm has a market cap of $48.19 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 4.35 and a beta of 0.81.

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

TC Energy Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TRP. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. BMO Capital Markets upped their target price on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Royal Bank of Canada upped their target price on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, StockNews.com assumed coverage on TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, TC Energy has an average rating of “Hold” and an average price target of $62.00.

About TC Energy

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.