Jennison Associates LLC Lowers Stock Holdings in TC Energy Co. (NYSE:TRP)

Jennison Associates LLC cut its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 7.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 485,187 shares of the pipeline company’s stock after selling 36,718 shares during the period. Jennison Associates LLC’s holdings in TC Energy were worth $22,601,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Addenda Capital Inc. increased its stake in TC Energy by 4.4% in the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock valued at $48,135,000 after purchasing an additional 43,639 shares during the last quarter. Captrust Financial Advisors increased its stake in shares of TC Energy by 1.3% during the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after acquiring an additional 242 shares during the last quarter. Ritholtz Wealth Management lifted its holdings in shares of TC Energy by 44.8% during the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock worth $1,115,000 after acquiring an additional 7,412 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of TC Energy in the third quarter worth approximately $3,771,000. Finally, Harvest Portfolios Group Inc. grew its holdings in TC Energy by 107.7% in the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after purchasing an additional 117,176 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in 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. TD Securities began coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. BMO Capital Markets boosted their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday. Finally, The Goldman Sachs Group boosted their target price on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.00.

TC Energy Trading Up 0.9 %

Shares of TRP opened at $47.09 on Thursday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37. The stock has a market cap of $48.93 billion, a PE ratio of 13.05, a P/E/G ratio of 4.31 and a beta of 0.81. The stock’s 50-day moving average is $46.88 and its two-hundred day moving average is $46.29.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. Equities analysts forecast that TC Energy Co. will post 2.95 earnings per share 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.