AGF Management Ltd. Grows Stock Position in TC Energy Co. (NYSE:TRP)

AGF Management Ltd. grew its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 120.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,271,175 shares of the pipeline company's stock after purchasing an additional 694,437 shares during the quarter. AGF Management Ltd. owned approximately 0.13% of TC Energy worth $49,690,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TRP. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in TC Energy by 70.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company's stock valued at $569,058,000 after purchasing an additional 6,840,000 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in TC Energy by 18.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company's stock worth $849,037,000 after purchasing an additional 3,740,495 shares during the period. Blackstone Inc. raised its holdings in TC Energy by 540.4% during the 3rd quarter. Blackstone Inc. now owns 3,117,031 shares of the pipeline company's stock valued at $107,257,000 after buying an additional 2,630,324 shares during the last quarter. Morgan Stanley raised its stake in shares of TC Energy by 42.5% during the third quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company's stock valued at $234,719,000 after acquiring an additional 2,034,846 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in TC Energy by 24.8% in the 3rd quarter. CIBC Asset Management Inc now owns 9,567,604 shares of the pipeline company's stock worth $330,044,000 after buying an additional 1,901,838 shares during the period. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Performance

Shares of TRP stock traded up $0.43 during trading hours on Friday, reaching $38.63. 2,654,462 shares of the company traded hands, compared to its average volume of 4,059,905. The firm has a 50-day moving average price of $38.34 and a 200 day moving average price of $38.21. The company has a market cap of $38.63 billion, a P/E ratio of 19.91, a P/E/G ratio of 3.21 and a beta of 0.75. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.94 and a quick ratio of 0.88. TC Energy Co. has a 12-month low of $32.51 and a 12-month high of $41.85.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.20. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.93 billion. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. As a group, sell-side analysts predict that TC Energy Co. will post 2.98 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.35%. The ex-dividend date is Friday, June 28th. TC Energy's dividend payout ratio (DPR) is 143.30%.

Wall Street Analyst Weigh In

Several analysts have weighed in on TRP shares. The Goldman Sachs Group lifted their price objective on TC Energy from $29.00 to $32.00 and gave the company a "sell" rating in a research report on Friday, January 26th. Stifel Nicolaus initiated coverage on shares of TC Energy in a research note on Thursday, January 18th. They issued a "buy" rating on the stock. Jefferies Financial Group assumed coverage on TC Energy in a research report on Tuesday, February 27th. They issued a "hold" rating for the company. TheStreet upgraded shares of TC Energy from a "c+" rating to a "b-" rating in a research note on Wednesday, March 20th. Finally, Barclays raised their price target on TC Energy from $53.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Monday, January 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, TC Energy currently has a consensus rating of "Hold" and an average target price of $48.83.

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.