Mediolanum International Funds Ltd Has $5 Million Holdings in TC Energy Corporation $TRP

Mediolanum International Funds Ltd grew its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 43.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,672 shares of the pipeline company’s stock after buying an additional 28,331 shares during the period. Mediolanum International Funds Ltd’s holdings in TC Energy were worth $5,004,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in TC Energy by 54.0% during the 1st quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock valued at $538,000 after purchasing an additional 3,892 shares during the last quarter. Focus Partners Wealth raised its position in shares of TC Energy by 46.1% in the first quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock valued at $588,000 after purchasing an additional 3,929 shares during the period. Intech Investment Management LLC lifted its stake in shares of TC Energy by 200.7% during the 1st quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock worth $1,269,000 after buying an additional 17,939 shares during the last quarter. Hilltop National Bank bought a new stake in shares of TC Energy during the 2nd quarter worth about $32,000. Finally, DAVENPORT & Co LLC boosted its holdings in shares of TC Energy by 3.3% during the 2nd quarter. DAVENPORT & Co LLC now owns 76,915 shares of the pipeline company’s stock worth $3,748,000 after buying an additional 2,437 shares during the period. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Performance

TRP opened at $58.38 on Tuesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63. TC Energy Corporation has a 52-week low of $43.51 and a 52-week high of $59.44. The firm has a market cap of $60.76 billion, a P/E ratio of 25.16 and a beta of 0.72. The business’s fifty day moving average is $55.01 and its 200-day moving average is $52.75.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the prior year, the business posted $1.03 earnings per share. Sell-side analysts expect that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

Analysts Set New Price Targets

TRP has been the subject of several research reports. Wall Street Zen downgraded shares of TC Energy from a “hold” rating to a “sell” rating in a research report on Sunday, January 4th. TD Securities reissued a “buy” rating on shares of TC Energy in a report on Friday, October 17th. Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a report on Thursday, November 20th. Barclays reiterated an “overweight” rating on shares of TC Energy in a research report on Tuesday, October 14th. Finally, Cibc World Mkts downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

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.