Principal Financial Group Inc. Purchases 10,867 Shares of TC Energy Corporation $TRP

Principal Financial Group Inc. raised its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 6.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,605 shares of the pipeline company’s stock after buying an additional 10,867 shares during the quarter. Principal Financial Group Inc.’s holdings in TC Energy were worth $9,822,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TRP. Thrivent Financial for Lutherans increased its holdings in TC Energy by 9.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,556 shares of the pipeline company’s stock worth $302,000 after acquiring an additional 493 shares during the last quarter. Lee Financial Co bought a new position in TC Energy during the third quarter worth about $915,000. Benedict Financial Advisors Inc. increased its stake in shares of TC Energy by 1.6% in the third quarter. Benedict Financial Advisors Inc. now owns 48,791 shares of the pipeline company’s stock worth $2,655,000 after purchasing an additional 748 shares in the last quarter. Foundations Investment Advisors LLC raised its position in shares of TC Energy by 107.5% in the third quarter. Foundations Investment Advisors LLC now owns 12,817 shares of the pipeline company’s stock valued at $697,000 after purchasing an additional 6,640 shares during the period. Finally, AE Wealth Management LLC raised its position in shares of TC Energy by 7.5% in the third quarter. AE Wealth Management LLC now owns 7,630 shares of the pipeline company’s stock valued at $415,000 after purchasing an additional 530 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TRP shares. Royal Bank Of Canada raised their price objective on shares of TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Wall Street Zen cut TC Energy from a “hold” rating to a “sell” rating in a research report on Sunday, January 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a research note on Monday, December 29th. BMO Capital Markets upgraded TC Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, November 7th. Finally, Canadian Imperial Bank of Commerce raised TC Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, TC Energy presently has a consensus rating of “Buy” and a consensus price target of $84.00.

TC Energy Trading Up 0.9%

Shares of TRP stock opened at $61.46 on Friday. The company has a market capitalization of $63.97 billion, a PE ratio of 26.49 and a beta of 0.73. TC Energy Corporation has a 52-week low of $43.59 and a 52-week high of $61.75. The business’s fifty day moving average is $55.97 and its 200 day moving average is $53.37. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63.

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.