Intech Investment Management LLC Decreases Stock Holdings in TC Energy Corporation $TRP

Intech Investment Management LLC lessened its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 38.2% during the third quarter, HoldingsChannel.com reports. The fund owned 30,050 shares of the pipeline company’s stock after selling 18,578 shares during the quarter. Intech Investment Management LLC’s holdings in TC Energy were worth $1,634,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. MAI Capital Management lifted its position in TC Energy by 6.9% during the third quarter. MAI Capital Management now owns 3,709 shares of the pipeline company’s stock valued at $202,000 after purchasing an additional 239 shares during the period. TD Asset Management Inc lifted its holdings in shares of TC Energy by 2.9% during the 3rd quarter. TD Asset Management Inc now owns 19,624,247 shares of the pipeline company’s stock valued at $1,067,246,000 after buying an additional 550,066 shares during the period. Kayne Anderson Capital Advisors LP boosted its stake in shares of TC Energy by 16.1% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 5,361,657 shares of the pipeline company’s stock worth $291,728,000 after buying an additional 744,801 shares during the last quarter. Compound Planning Inc. grew its holdings in shares of TC Energy by 8.7% in the third quarter. Compound Planning Inc. now owns 16,606 shares of the pipeline company’s stock worth $904,000 after acquiring an additional 1,327 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in TC Energy by 7.7% during the third quarter. EverSource Wealth Advisors LLC now owns 3,991 shares of the pipeline company’s stock valued at $217,000 after acquiring an additional 285 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TRP shares. Barclays reissued an “overweight” rating on shares of TC Energy in a research report on Friday, February 20th. BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. Wells Fargo & Company reiterated an “overweight” rating on shares of TC Energy in a research report on Monday, February 16th. Citigroup reiterated a “neutral” rating on shares of TC Energy in a research note on Thursday, February 19th. Finally, Wall Street Zen upgraded TC Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $72.50.

TC Energy Stock Performance

TRP opened at $63.87 on Friday. The company has a 50 day simple moving average of $58.60 and a two-hundred day simple moving average of $54.86. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.63 and a quick ratio of 0.56. The firm has a market cap of $66.50 billion, a P/E ratio of 27.48 and a beta of 0.72. TC Energy Corporation has a 1-year low of $43.59 and a 1-year high of $65.57.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data 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 net margin of 23.04% and a return on equity of 10.52%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the firm earned $1.05 EPS. Equities analysts forecast that TC Energy Corporation will post 2.63 earnings per share 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. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.8775 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, March 31st. TC Energy’s payout ratio is 110.78%.

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.