521,905 Shares in TC Energy Co. (NYSE:TRP) Purchased by Jennison Associates LLC

Jennison Associates LLC acquired a new position in TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 521,905 shares of the pipeline company’s stock, valued at approximately $24,808,000.

Several other large investors also recently bought and sold shares of TRP. SG Americas Securities LLC purchased a new stake in shares of TC Energy during the first quarter worth approximately $104,000. O Shaughnessy Asset Management LLC boosted its stake in TC Energy by 13.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 31,818 shares of the pipeline company’s stock worth $1,279,000 after purchasing an additional 3,758 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of TC Energy by 178.0% during the first quarter. Bessemer Group Inc. now owns 36,117 shares of the pipeline company’s stock worth $1,451,000 after buying an additional 23,125 shares in the last quarter. Natixis acquired a new stake in shares of TC Energy in the first quarter valued at about $270,000. Finally, Energy Income Partners LLC boosted its position in TC Energy by 13.1% during the first quarter. Energy Income Partners LLC now owns 1,393,532 shares of the pipeline company’s stock worth $56,020,000 after acquiring an additional 161,883 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Down 0.7 %

Shares of NYSE:TRP opened at $49.86 on Friday. The company has a market capitalization of $51.75 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 4.19 and a beta of 0.81. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37. The business has a 50-day moving average price of $47.22 and a 200 day moving average price of $43.18. 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 (NYSE:TRP) (TSE:TRP) last released 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 net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. Sell-side analysts expect that TC Energy Co. will post 2.98 EPS for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a dividend yield of 6.59%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is currently 78.95%.

Wall Street Analyst Weigh In

A number of research firms have commented on TRP. Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. StockNews.com began coverage on TC Energy in a report on Monday, November 18th. They set a “hold” rating on the stock. Finally, BMO Capital Markets upped their price objective on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.