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Tortoise Index Solutions LLC Increases Stake in TC Energy by 16.2% Amid Promising Energy Infrastructure Developments



Tortoise Index Solutions LLC, a top financial firm specializing in energy infrastructure solutions, has recently increased its stake in TC Energy Corporation by 16.2% during the fourth quarter of the year. According to its latest Form 13F filing with the Securities and Exchange Commission, the company now owns more than one million shares of the esteemed pipeline provider’s stock, bringing TC Energy’s share value to approximately $24,964,000.

TC Energy is one of Canada’s leading energy companies that provides diversified services across multiple business segments. These include Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Energy Solutions, and Corporate. The company has a reputation for delivering excellence in energy infrastructure development for many years now.

On Friday last week November 27th 2020 TRP traded at $41.01 with a trading volume of 920016 shares compared to an average volume of 1.83 Million shares daily. In addition to this information is the fact that the company has seen a trading range between $60usd(high) – $37usd(low).

Despite having a market cap of $42.22 billion and P/E ratio of almost 32 as well as price-to-earnings-growth ratio of over three making it more expensive than its peers in most cases; TC Energy still manages to secure repeat investors due to strong ties built on trust and successful investments.

While Tortoise Index Solution LLC owned only about .10% stake in TC Energy earlier in 2020,it is interesting to note that currently it holds nearly double this amount which suggests increasing confidence from some large stake holders as well as perhaps institutional buyers .

This news may bode well for both Tortoise Index Solutions LLC and TC Energy moving forward into next year particularly after it disclosed plans to proceed with constructing Keystone XL oil pipeline despite political headwinds experienced previously. The pipeline was given approval on March 29th 2021. Without a doubt, an investment in TC Energy is a promising move for those looking to make strong plays in the energy infrastructure industry.



Updated on: 04/06/2023

Price Target

Current $41.14

Concensus $52.06

Low $45.00

Median $50.53

High $58.09

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Social Sentiments

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Analyst Ratings

Analyst / firm Rating
Robert Hope
Jeremy Tonet
J.P. Morgan
Michael Lapides
Goldman Sachs
Ned Baramov
Wells Fargo
Robert Kad
Morgan Stanley

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Institutional Investors Shake Up TC Energy’s Shareholder Base: Mixed Responses for Future Growth Prospects

TC Energy, the Canadian pipeline company, has recently seen a number of changes in its institutional investor base. National Bank of Canada FI raised its holdings in TC Energy by a staggering 527.8% during Q4 2016, bringing its total share ownership to 13,756,448 with a value of $548,242,000. Price T Rowe Associates Inc. MD also increased its stake by approximately 60% during Q3 2016 and now owns over 30 million shares valued at $1.2 billion. Murchinson Ltd., Canada Pension Plan Investment Board and Jarislowsky Fraser Ltd have all recently acquired new stakes in the firm as well.

Following these changes to TC Energy’s investor base, several equities research analysts have weighed in on the stock’s prospects for future growth. While TheStreet upgraded their rating from “c” to “b-,” other firms such as Scotiabank and BMO Capital Markets lowered their target prices on the company’s shares. Royal Bank of Canada also decreased its price objective from C$73.00 to C$65.00.

Despite mixed opinions regarding its future performance, TC Energy recently announced that it would pay out a quarterly dividend per share of $0.688 on July 31st to shareholders recorded on June 30th; an annualized dividend yield of 6.71%. In light of this information and considering the recent changes in institutional investment activity surrounding TC Energy, it will be interesting to see how the company performs going forward as investors continue to evaluate its worthiness for inclusion in their portfolios.

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