Addenda Capital Inc. Buys 43,639 Shares of TC Energy Co. (NYSE:TRP)

Addenda Capital Inc. boosted its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,034,497 shares of the pipeline company's stock after purchasing an additional 43,639 shares during the quarter. TC Energy comprises 2.2% of Addenda Capital Inc.'s investment portfolio, making the stock its 12th biggest position. Addenda Capital Inc. owned about 0.10% of TC Energy worth $48,135,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of TC Energy by 156.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company's stock worth $321,778,000 after buying an additional 4,126,801 shares in the last quarter. Merewether Investment Management LP bought a new position in TC Energy in the 2nd quarter worth about $112,618,000. Marshall Wace LLP raised its holdings in shares of TC Energy by 841.1% in the 2nd quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company's stock valued at $77,349,000 after acquiring an additional 1,824,008 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of TC Energy during the 3rd quarter valued at about $73,162,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of TC Energy during the second quarter worth about $50,257,000. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Up 0.3 %

Shares of NYSE TRP traded up $0.12 during midday trading on Tuesday, hitting $47.52. The stock had a trading volume of 2,972,780 shares, compared to its average volume of 2,374,982. The business's 50 day moving average is $47.54 and its 200-day moving average is $45.74. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. 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 company has a market cap of $49.38 billion, a P/E ratio of 13.16, a PEG ratio of 4.47 and a beta of 0.82.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released 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 for the quarter, compared to analysts' expectations of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. As a group, analysts predict that TC Energy Co. will post 2.95 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.822 dividend. This represents a $3.29 annualized dividend and a yield of 6.92%. This is an increase from TC Energy's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy's dividend payout ratio (DPR) is presently 63.43%.

Analysts Set New Price Targets

A number of research firms have commented on TRP. TD Securities started coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. StockNews.com initiated coverage on TC Energy in a research note on Wednesday, December 4th. They issued a "hold" rating on the stock. The Goldman Sachs Group raised their price target on TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a research report on Monday, October 21st. Veritas upgraded TC Energy to a "strong sell" rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. upgraded TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $55.67.

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.