TC Energy Co. (NYSE:TRP) Stock Position Decreased by Capital Research Global Investors

Capital Research Global Investors lowered its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,398,845 shares of the pipeline company’s stock after selling 3,441,819 shares during the period. Capital Research Global Investors owned about 4.85% of TC Energy worth $2,348,636,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. NTV Asset Management LLC grew its position in TC Energy by 4.0% in the 4th quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock worth $288,000 after purchasing an additional 239 shares during the last quarter. Lee Financial Co boosted its position in shares of TC Energy by 3.1% during the fourth quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock worth $381,000 after buying an additional 246 shares during the period. IFP Advisors Inc grew its holdings in TC Energy by 7.0% in the 4th quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock worth $177,000 after buying an additional 249 shares in the last quarter. Global Retirement Partners LLC grew its holdings in TC Energy by 7.2% in the 4th quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company’s stock worth $191,000 after buying an additional 274 shares in the last quarter. Finally, Cohen Investment Advisors LLC increased its position in TC Energy by 2.9% in the 4th quarter. Cohen Investment Advisors LLC now owns 9,831 shares of the pipeline company’s stock valued at $457,000 after acquiring an additional 279 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TRP has been the subject of several research analyst reports. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Royal Bank of Canada increased their price target on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, Citigroup initiated coverage on TC Energy in a research note on Friday, April 4th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Price Performance

TC Energy stock opened at $49.44 on Friday. The business has a 50 day simple moving average of $46.78 and a 200 day simple moving average of $46.99. TC Energy Co. has a one year low of $35.30 and a one year high of $50.37. The company has a market capitalization of $51.39 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the previous year, the company posted $1.35 earnings per share. On average, sell-side analysts forecast that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.85 dividend. The ex-dividend date is Monday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a yield of 6.88%. TC Energy’s dividend payout ratio (DPR) is presently 72.84%.

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.