Balyasny Asset Management LLC raised its holdings in TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP) by 2,120.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 885,284 shares of the pipeline company’s stock after purchasing an additional 845,413 shares during the quarter. Balyasny Asset Management LLC owned 0.09% of TC Energy worth $35,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently bought and sold shares of the company. Parkwood LLC grew its stake in shares of TC Energy by 1.9% during the 2nd quarter. Parkwood LLC now owns 26,025 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 492 shares during the period. EdgeRock Capital LLC bought a new position in shares of TC Energy during the 3rd quarter worth $26,000. GPS Wealth Strategies Group LLC grew its stake in shares of TC Energy by 53.6% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 777 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 271 shares during the period. CoreCap Advisors LLC bought a new position in shares of TC Energy during the 2nd quarter worth $40,000. Finally, Chilton Capital Management LLC bought a new position in shares of TC Energy during the 2nd quarter worth $62,000. Institutional investors own 71.86% of the company’s stock.
TC Energy Stock Performance
NYSE:TRP opened at $39.64 on Wednesday. The business’s 50-day moving average price is $41.47 and its two-hundred day moving average price is $43.24. TC Energy Co. has a twelve month low of $38.35 and a twelve month high of $59.38. The stock has a market cap of $40.54 billion, a P/E ratio of 68.34, a PEG ratio of 3.03 and a beta of 0.85. The company has a quick ratio of 0.38, a current ratio of 0.43 and a debt-to-equity ratio of 1.59.
TC Energy Increases Dividend
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on TRP shares. CIBC upgraded TC Energy from a “neutral” rating to a “sector outperform” rating in a research note on Wednesday, February 1st. Wells Fargo & Company cut TC Energy from an “equal weight” rating to an “underweight” rating in a report on Friday, December 16th. TheStreet cut TC Energy from a “b-” rating to a “c” rating in a report on Tuesday, February 14th. Royal Bank of Canada dropped their price objective on TC Energy from C$73.00 to C$65.00 in a report on Thursday, February 2nd. Finally, Credit Suisse Group dropped their price objective on TC Energy from C$63.00 to C$60.50 in a report on Thursday, February 2nd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $64.86.
About TC Energy
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.
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