AlphaCrest Capital Management LLC Invests $461,000 in TC Energy Co. (NYSE:TRP)

AlphaCrest Capital Management LLC purchased a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,300 shares of the pipeline company’s stock, valued at approximately $461,000.

A number of other hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of TC Energy by 58.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,284,239 shares of the pipeline company’s stock worth $63,596,000 after acquiring an additional 476,168 shares in the last quarter. Advisory Services Network LLC purchased a new position in TC Energy in the second quarter valued at about $343,000. Bollard Group LLC raised its position in TC Energy by 31.0% in the second quarter. Bollard Group LLC now owns 214,984 shares of the pipeline company’s stock valued at $10,646,000 after purchasing an additional 50,878 shares during the period. Stephens Inc. AR lifted its stake in shares of TC Energy by 2.8% during the second quarter. Stephens Inc. AR now owns 39,751 shares of the pipeline company’s stock worth $1,968,000 after purchasing an additional 1,096 shares in the last quarter. Finally, Natixis Advisors L.P. boosted its position in shares of TC Energy by 6.8% in the second quarter. Natixis Advisors L.P. now owns 364,278 shares of the pipeline company’s stock worth $18,039,000 after buying an additional 23,125 shares during the period. 69.40% of the stock is currently owned by hedge funds and other institutional investors.

TRP has been the subject of a number of analyst reports. CIBC upped their price target on TC Energy from C$70.00 to C$74.00 and gave the stock an “outperform” rating in a report on Friday, June 18th. JPMorgan Chase & Co. restated a “hold” rating and issued a C$68.00 target price on shares of TC Energy in a research note on Monday, August 23rd. Morgan Stanley downgraded shares of TC Energy from an “overweight” rating to an “equal weight” rating and set a $76.00 price target on the stock. in a research note on Tuesday, July 20th. Finally, The Goldman Sachs Group cut shares of TC Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $75.00 to $63.00 in a research report on Monday, September 13th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $69.25.

Shares of NYSE TRP opened at $51.59 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 1.56. The firm’s 50-day moving average price is $48.42 and its two-hundred day moving average price is $49.21. TC Energy Co. has a 52-week low of $38.80 and a 52-week high of $53.65. The stock has a market capitalization of $50.52 billion, a P/E ratio of 32.24, a P/E/G ratio of 2.37 and a beta of 0.79.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, July 29th. The pipeline company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. TC Energy had a return on equity of 14.84% and a net margin of 16.25%. The business had revenue of $2.59 billion for the quarter. As a group, equities research analysts expect that TC Energy Co. will post 3.38 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 29th. Shareholders of record on Thursday, September 30th will be given a $0.6917 dividend. This represents a $2.77 annualized dividend and a yield of 5.36%. The ex-dividend date is Wednesday, September 29th. TC Energy’s dividend payout ratio is presently 86.94%.

TC Energy Profile

TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Storage, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.

Further Reading: What is Liquidity?

Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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