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

Metis Global Partners LLC increased its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 16.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 95,470 shares of the pipeline company’s stock after purchasing an additional 13,368 shares during the period. Metis Global Partners LLC’s holdings in TC Energy were worth $4,538,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TRP. EdgeRock Capital LLC bought a new stake in shares of TC Energy during the second quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. raised its stake in TC Energy by 138.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after buying an additional 429 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in TC Energy in the 3rd quarter worth approximately $28,000. Blue Trust Inc. grew its holdings in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after buying an additional 267 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in TC Energy in the 2nd quarter worth approximately $33,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Performance

NYSE:TRP opened at $48.84 on Friday. The company has a market cap of $50.69 billion, a P/E ratio of 13.53, a P/E/G ratio of 4.07 and a beta of 0.81. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.22. The company’s 50-day moving average price is $46.78 and its 200-day moving average price is $42.59. 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 (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, sell-side analysts forecast that TC Energy Co. will post 2.98 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. This represents a $3.29 annualized dividend and a dividend yield of 6.73%. The ex-dividend date is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is currently 78.95%.

Analyst Ratings Changes

TRP has been the topic of a number of recent research reports. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Veritas upgraded TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group upped their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. StockNews.com initiated coverage on shares of TC Energy in a research report on Saturday, October 5th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.