Metis Global Partners LLC Raises Position in TC Energy Co. (NYSE:TRP)

Metis Global Partners LLC grew its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 7.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,922 shares of the pipeline company’s stock after buying an additional 6,002 shares during the quarter. Metis Global Partners LLC’s holdings in TC Energy were worth $3,239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TRP. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in TC Energy by 70.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock valued at $569,058,000 after purchasing an additional 6,840,000 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of TC Energy by 18.0% during the third quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company’s stock valued at $849,037,000 after purchasing an additional 3,740,495 shares in the last quarter. Blackstone Inc. boosted its position in shares of TC Energy by 540.4% during the third quarter. Blackstone Inc. now owns 3,117,031 shares of the pipeline company’s stock valued at $107,257,000 after buying an additional 2,630,324 shares during the last quarter. Morgan Stanley increased its holdings in TC Energy by 42.5% in the 3rd quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock worth $234,719,000 after buying an additional 2,034,846 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in TC Energy by 24.8% in the 3rd quarter. CIBC Asset Management Inc now owns 9,567,604 shares of the pipeline company’s stock worth $330,044,000 after buying an additional 1,901,838 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TRP. TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Barclays raised their target price on shares of TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Stifel Nicolaus began coverage on shares of TC Energy in a research note on Thursday, January 18th. They set a “buy” rating for the company. Jefferies Financial Group began coverage on TC Energy in a research note on Tuesday, February 27th. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group lifted their price objective on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, TC Energy has a consensus rating of “Hold” and a consensus target price of $48.83.

TC Energy Price Performance

NYSE:TRP remained flat at $37.62 during mid-day trading on Monday. The company’s stock had a trading volume of 2,467,076 shares, compared to its average volume of 3,091,195. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96. The company has a 50 day moving average of $38.49 and a two-hundred day moving average of $38.14. The company has a market cap of $37.62 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 3.24 and a beta of 0.76. TC Energy Co. has a twelve month low of $32.51 and a twelve month high of $42.49.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.93 billion. TC Energy had a return on equity of 20.63% and a net margin of 17.23%. Equities analysts predict that TC Energy Co. will post 2.9 EPS for the current year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a $0.71 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.55%. TC Energy’s payout ratio is currently 145.88%.

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.