Harvest Portfolios Group Inc. Increases Stake in TC Energy Co. (NYSE:TRP)

Harvest Portfolios Group Inc. raised its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 107.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 226,007 shares of the pipeline company’s stock after purchasing an additional 117,176 shares during the period. Harvest Portfolios Group Inc.’s holdings in TC Energy were worth $10,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the company. Norden Group LLC bought a new stake in TC Energy in the first quarter worth about $354,000. Private Advisor Group LLC grew its position in TC Energy by 359.4% in the 1st quarter. Private Advisor Group LLC now owns 24,450 shares of the pipeline company’s stock valued at $983,000 after acquiring an additional 19,128 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in TC Energy by 39.3% in the first quarter. Sequoia Financial Advisors LLC now owns 8,193 shares of the pipeline company’s stock worth $329,000 after purchasing an additional 2,311 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of TC Energy by 5.7% during the first quarter. Janney Montgomery Scott LLC now owns 77,349 shares of the pipeline company’s stock worth $3,109,000 after purchasing an additional 4,167 shares during the last quarter. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of TC Energy during the first quarter valued at $1,014,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TRP shares. StockNews.com began coverage on shares of TC Energy in a research note on Saturday, October 5th. They issued a “hold” rating on the stock. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Finally, Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $48.50.

TC Energy Stock Performance

Shares of NYSE:TRP opened at $47.54 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $49.34 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 3.89 and a beta of 0.81. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $48.25. The firm has a 50 day moving average of $46.45 and a 200 day moving average of $42.10.

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.