Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in TC Energy Co. (NYSE:TRP)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 156.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 6,769,975 shares of the pipeline company’s stock after buying an additional 4,126,801 shares during the period. TC Energy accounts for approximately 1.6% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 15th biggest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in TC Energy were worth $321,778,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of TC Energy during the first quarter worth about $104,000. O Shaughnessy Asset Management LLC grew its holdings 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 valued at $1,279,000 after buying an additional 3,758 shares in the last quarter. Bessemer Group Inc. raised its position 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 valued at $1,451,000 after buying an additional 23,125 shares during the last quarter. Natixis purchased a new position in shares of TC Energy in the first quarter worth $270,000. Finally, Capital Group Private Client Services Inc. boosted its position in shares of TC Energy by 75.5% during the first quarter. Capital Group Private Client Services Inc. now owns 1,597,198 shares of the pipeline company’s stock worth $64,196,000 after acquiring an additional 687,179 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TRP shares. The Goldman Sachs Group lifted their price target on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Finally, StockNews.com assumed coverage on TC Energy in a research note on Monday. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, TC Energy currently has an average rating of “Hold” and an average price target of $48.50.

TC Energy Trading Down 0.2 %

TRP opened at $49.83 on Wednesday. The stock has a 50-day moving average of $47.01 and a 200 day moving average of $43.01. 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 12 month low of $31.83 and a 12 month high of $50.22. The firm has a market cap of $51.71 billion, a P/E ratio of 13.80, a P/E/G ratio of 4.12 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. As a group, research analysts forecast that TC Energy Co. will post 2.98 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. This represents a $3.29 annualized dividend and a yield of 6.60%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy’s payout ratio is presently 67.31%.

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.