ExodusPoint Capital Management LP Purchases New Holdings in TC Energy Co. (NYSE:TRP)

ExodusPoint Capital Management LP purchased a new stake in TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,890 shares of the pipeline company’s stock, valued at approximately $560,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund increased its position in TC Energy by 161.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,930,618 shares of the pipeline company’s stock worth $307,196,000 after purchasing an additional 3,661,452 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in TC Energy by 176.7% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,646,798 shares of the pipeline company’s stock worth $149,414,000 after purchasing an additional 1,690,298 shares during the period. Great West Life Assurance Co. Can acquired a new position in TC Energy during the 3rd quarter worth approximately $51,518,000. Vanguard Group Inc. increased its position in TC Energy by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 33,256,822 shares of the pipeline company’s stock worth $1,876,349,000 after purchasing an additional 993,965 shares during the period. Finally, Mondrian Investment Partners LTD acquired a new position in TC Energy during the 3rd quarter worth approximately $43,320,000. Institutional investors and hedge funds own 71.86% of the company’s stock.

TC Energy Price Performance

TRP stock opened at $40.65 on Tuesday. TC Energy Co. has a 1 year low of $38.35 and a 1 year high of $59.38. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.38 and a current ratio of 0.43. The stock’s 50 day moving average price is $41.44 and its 200 day moving average price is $44.03. The firm has a market cap of $41.38 billion, a P/E ratio of 70.09, a PEG ratio of 3.22 and a beta of 0.84.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, March 31st will be paid a $0.699 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $2.80 dividend on an annualized basis and a yield of 6.88%. This is a positive change from TC Energy’s previous quarterly dividend of $0.66. TC Energy’s dividend payout ratio is presently 458.62%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TRP shares. BMO Capital Markets decreased their price target on TC Energy from C$66.00 to C$64.00 in a research note on Thursday, February 2nd. CIBC raised TC Energy from a “neutral” rating to a “sector outperform” rating in a research note on Wednesday, February 1st. TD Securities decreased their price target on TC Energy from C$71.00 to C$68.00 in a research note on Wednesday, February 15th. Raymond James raised TC Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, January 6th. Finally, National Bank Financial decreased their price target on TC Energy from C$56.00 to C$53.00 in a research note on Thursday, February 2nd. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $64.86.

TC Energy Profile

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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 Energy Solutions, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.