Metis Global Partners LLC Acquires 13,368 Shares of TC Energy Co. (NYSE:TRP)

Metis Global Partners LLC boosted its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 16.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 95,470 shares of the pipeline company’s stock after acquiring an additional 13,368 shares during the period. Metis Global Partners LLC’s holdings in TC Energy were worth $4,538,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new stake in TC Energy during the third quarter worth about $215,000. Souders Financial Advisors increased its holdings in shares of TC Energy by 0.5% in the third quarter. Souders Financial Advisors now owns 85,817 shares of the pipeline company’s stock worth $4,081,000 after purchasing an additional 396 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of TC Energy by 32.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 43,392 shares of the pipeline company’s stock valued at $2,063,000 after acquiring an additional 10,637 shares in the last quarter. Tacita Capital Inc increased its holdings in shares of TC Energy by 4.7% in the 3rd quarter. Tacita Capital Inc now owns 70,809 shares of the pipeline company’s stock worth $3,370,000 after buying an additional 3,179 shares during the last quarter. Finally, Meixler Investment Management Ltd. lifted its stake in TC Energy by 6.9% during the third quarter. Meixler Investment Management Ltd. now owns 9,650 shares of the pipeline company’s stock worth $459,000 after purchasing an additional 625 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Trading Up 0.8 %

Shares of TRP stock opened at $48.84 on Friday. The firm has a fifty day moving average price of $46.78 and a 200-day moving average price of $42.59. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.22. The company has a market cap of $50.69 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 4.07 and a beta of 0.81.

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

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. 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. This represents a $3.29 dividend on an annualized basis and a yield of 6.73%. TC Energy’s dividend payout ratio is presently 78.95%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TRP shares. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Veritas upgraded TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. StockNews.com started coverage on TC Energy in a research report on Saturday, October 5th. They issued a “hold” rating on the stock. Finally, Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $48.50.

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.