Cerity Partners LLC Buys 8,660 Shares of TC Energy Co. (NYSE:TRP)

Cerity Partners LLC grew its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 72.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,538 shares of the pipeline company’s stock after acquiring an additional 8,660 shares during the quarter. Cerity Partners LLC’s holdings in TC Energy were worth $977,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. EdgeRock Capital LLC bought a new position in TC Energy in the 2nd quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. raised its holdings in TC Energy by 138.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after buying an additional 429 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of TC Energy in the third quarter worth approximately $28,000. Blue Trust Inc. lifted its stake in shares of TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after buying an additional 267 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in shares of TC Energy during the second quarter valued at approximately $33,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

NYSE TRP opened at $49.02 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $50.88 billion, a P/E ratio of 13.58, a PEG ratio of 4.05 and a beta of 0.82. The company has a 50-day moving average price of $47.57 and a 200-day moving average price of $43.79. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37.

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 for the quarter, topping the consensus estimate of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. Equities research analysts anticipate that TC Energy Co. will post 3 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a yield of 6.71%. TC Energy’s payout ratio is 78.95%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. BMO Capital Markets upped their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. The Goldman Sachs Group increased their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. StockNews.com began coverage on TC Energy in a research report on Wednesday. They issued a “hold” rating for the company. Finally, Veritas raised shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, TC Energy presently has an average rating of “Hold” and an average price target of $55.67.

TC Energy Company 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.