MML Investors Services LLC Raises Stock Position in TC Energy Co. (NYSE:TRP)

MML Investors Services LLC grew its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 91,693 shares of the pipeline company’s stock after purchasing an additional 1,662 shares during the period. MML Investors Services LLC’s holdings in TC Energy were worth $4,360,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TRP. Canada Pension Plan Investment Board lifted its holdings in TC Energy by 107.1% in the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after acquiring an additional 10,065,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of TC Energy by 156.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after purchasing an additional 4,126,801 shares during the last quarter. Merewether Investment Management LP purchased a new position in shares of TC Energy during the 2nd quarter worth $112,618,000. Marshall Wace LLP increased its position in shares of TC Energy by 841.1% during the 2nd quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company’s stock worth $77,349,000 after purchasing an additional 1,824,008 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in TC Energy in the 3rd quarter valued at about $73,162,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Down 0.7 %

TC Energy stock opened at $46.45 on Friday. The firm has a market capitalization of $48.21 billion, a P/E ratio of 12.87, a P/E/G ratio of 3.95 and a beta of 0.82. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37. The stock’s fifty day simple moving average is $47.74 and its 200-day simple moving average is $44.18.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. As a group, equities analysts expect that TC Energy Co. will post 3 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.822 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 7.08%. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is currently 67.31%.

Analyst Ratings Changes

Several brokerages have weighed in on TRP. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. BMO Capital Markets raised their price target on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Finally, The Goldman Sachs Group boosted their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, TC Energy currently has a consensus rating of “Hold” and a consensus price target of $55.67.

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.