TC Energy Co. (NYSE:TRP) Stock Holdings Lessened by Intact Investment Management Inc.

Intact Investment Management Inc. reduced its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 65.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 471,304 shares of the pipeline company’s stock after selling 879,930 shares during the period. Intact Investment Management Inc.’s holdings in TC Energy were worth $22,406,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Capital Research Global Investors lifted its position in TC Energy by 2.7% in the 1st quarter. Capital Research Global Investors now owns 57,170,304 shares of the pipeline company’s stock valued at $2,297,701,000 after purchasing an additional 1,492,315 shares during the last quarter. Vanguard Group Inc. lifted its position in TC Energy by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company’s stock valued at $1,650,505,000 after purchasing an additional 653,031 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in TC Energy by 107.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after purchasing an additional 10,065,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in TC Energy by 94.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock valued at $688,534,000 after purchasing an additional 8,339,800 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in TC Energy by 9.5% in the 1st quarter. TD Asset Management Inc now owns 16,763,150 shares of the pipeline company’s stock valued at $674,366,000 after purchasing an additional 1,458,732 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on TRP shares. The Goldman Sachs Group lifted their price objective on shares of 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 shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Finally, StockNews.com initiated coverage on shares of TC Energy in a research report on Saturday, October 5th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.50.

TC Energy Stock Performance

Shares of TRP opened at $46.30 on Monday. The firm’s 50 day moving average is $46.39 and its 200-day moving average is $41.93. The stock has a market capitalization of $48.05 billion, a P/E ratio of 18.98, a P/E/G ratio of 3.85 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $48.25.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.29. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same quarter in the previous year, the company posted $0.71 EPS. Equities research analysts anticipate that TC Energy Co. will post 3.02 EPS for the current fiscal year.

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.