Does "te quiero" mean "I love you" in english?

See a translation

Contextually it is not the same thing. "Te quiero" is a polysemic expression that can either refer to:
-"I want you" (respecting the literal sense of the expression by the meaning of the words used). Just to give an example:
[Te quiero en este proyecto] (I want you in this project)

-"I am fond of you." (affection)
This one is more common and can be used along adverbs. Although its degree of significance is relatively subjective, it is used amongst close friends and family members (although it is acceptable to use the verb "amar" without romantic meaning for the latter).

Of course, you can get creative and alternate the meanings between "Te quiero" and "Te amo" unless you are affirmative you are referring to a romantic form of affection, use "Te amo".