TC Energy Corporation $TRP is Heronetta Management L.P.’s 10th Largest Position

Heronetta Management L.P. grew its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 6.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 135,316 shares of the pipeline company’s stock after purchasing an additional 7,830 shares during the quarter. TC Energy makes up 4.1% of Heronetta Management L.P.’s investment portfolio, making the stock its 10th largest holding. Heronetta Management L.P.’s holdings in TC Energy were worth $6,602,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TRP. D.A. Davidson & CO. increased its position in shares of TC Energy by 37.7% during the 1st quarter. D.A. Davidson & CO. now owns 8,785 shares of the pipeline company’s stock valued at $415,000 after purchasing an additional 2,406 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of TC Energy by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 915,241 shares of the pipeline company’s stock worth $43,209,000 after acquiring an additional 10,227 shares during the period. Penserra Capital Management LLC grew its stake in shares of TC Energy by 10,620.7% during the 1st quarter. Penserra Capital Management LLC now owns 9,327 shares of the pipeline company’s stock worth $440,000 after acquiring an additional 9,240 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of TC Energy by 21.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 261,426 shares of the pipeline company’s stock worth $12,453,000 after acquiring an additional 45,447 shares during the period. Finally, Cerity Partners LLC grew its stake in shares of TC Energy by 113.2% during the 1st quarter. Cerity Partners LLC now owns 33,945 shares of the pipeline company’s stock worth $1,603,000 after acquiring an additional 18,022 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Up 1.2%

Shares of NYSE TRP opened at $50.37 on Thursday. TC Energy Corporation has a 52 week low of $43.51 and a 52 week high of $55.37. The business has a 50-day simple moving average of $52.19 and a two-hundred day simple moving average of $50.27. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. The company has a market cap of $52.41 billion, a P/E ratio of 17.19, a P/E/G ratio of 4.82 and a beta of 0.75.

Analysts Set New Price Targets

TRP has been the subject of several research reports. Wall Street Zen downgraded TC Energy from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. US Capital Advisors downgraded TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a research note on Wednesday, October 8th. TD Securities reiterated a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. Finally, Barclays reiterated an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

TC Energy Company 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.