Man Group plc Takes Position in TC Energy Corporation $TRP

Man Group plc acquired a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 171,008 shares of the pipeline company’s stock, valued at approximately $11,336,000.

Several other hedge funds also recently made changes to their positions in TRP. Groupe la Francaise boosted its stake in TC Energy by 2.1% in the first quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock valued at $459,000 after acquiring an additional 154 shares during the period. Wealthstar Advisors LLC lifted its stake in TC Energy by 1.5% in the first quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company’s stock valued at $718,000 after buying an additional 165 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in TC Energy by 5.7% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company’s stock valued at $245,000 after purchasing an additional 210 shares during the period. Arax Advisory Partners boosted its position in shares of TC Energy by 7.9% during the fourth quarter. Arax Advisory Partners now owns 3,029 shares of the pipeline company’s stock worth $167,000 after buying an additional 221 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in TC Energy by 5.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,223 shares of the pipeline company’s stock worth $232,000 after acquiring an additional 232 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of NYSE TRP opened at $61.87 on Friday. TC Energy Corporation has a 12 month low of $49.27 and a 12 month high of $71.47. The business’s 50 day moving average is $66.33 and its two-hundred day moving average is $65.34. The company has a market cap of $64.46 billion, a P/E ratio of 25.67 and a beta of 0.66. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.76 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same period in the prior year, the firm earned $0.82 EPS. On average, equities analysts expect that TC Energy Corporation will post 2.78 EPS for the current year.

TC Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be paid a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Tuesday, September 29th. TC Energy’s dividend payout ratio is presently 102.49%.

Analyst Ratings Changes

TRP has been the subject of a number of research analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st. Weiss Ratings reissued a “buy (b)” rating on shares of TC Energy in a research note on Friday, July 31st. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research note on Thursday, July 16th. Finally, BMO Capital Markets restated an “outperform” rating and set a $99.00 price objective on shares of TC Energy in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, TC Energy currently has an average rating of “Moderate Buy” and a consensus price target of $89.00.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.