Campbell & CO Investment Adviser LLC Takes $1.39 Million Position in TC Energy Corporation $TRP

Campbell & CO Investment Adviser LLC purchased a new position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 25,571 shares of the pipeline company’s stock, valued at approximately $1,391,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in TC Energy by 3.4% in the second quarter. Vanguard Group Inc. now owns 45,907,306 shares of the pipeline company’s stock worth $2,241,195,000 after acquiring an additional 1,509,328 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in TC Energy by 5.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 20,986,748 shares of the pipeline company’s stock worth $1,025,220,000 after purchasing an additional 1,178,190 shares in the last quarter. TD Asset Management Inc grew its position in TC Energy by 9.3% during the 2nd quarter. TD Asset Management Inc now owns 19,074,181 shares of the pipeline company’s stock valued at $929,316,000 after purchasing an additional 1,618,441 shares during the last quarter. JPMorgan Chase & Co. increased its stake in TC Energy by 7.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,724,325 shares of the pipeline company’s stock valued at $523,240,000 after purchasing an additional 738,012 shares in the last quarter. Finally, Norges Bank purchased a new position in TC Energy in the second quarter worth about $493,434,000. Institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

TRP has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of TC Energy from a “hold” rating to a “sell” rating in a report on Sunday, January 4th. Cibc World Mkts downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Scotiabank restated an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a report on Thursday, November 20th. Finally, Barclays reiterated an “overweight” rating on shares of TC Energy in a report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

TC Energy Trading Up 1.1%

Shares of NYSE:TRP opened at $54.92 on Friday. The stock has a market capitalization of $57.16 billion, a price-to-earnings ratio of 23.67 and a beta of 0.72. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63. The stock’s 50-day simple moving average is $54.48 and its two-hundred day simple moving average is $52.04. TC Energy Corporation has a 52-week low of $43.51 and a 52-week high of $56.34.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, meeting the consensus estimate of $0.56. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $2.63 billion. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. During the same quarter in the prior year, the firm earned $1.03 EPS. Analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, December 31st. This represents a $3.40 annualized dividend and a dividend yield of 6.2%. This is a boost from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio is 106.90%.

TC Energy 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.