Capital International Inc. CA Sells 19,927 Shares of TC Energy Co. (NYSE:TRP)

Capital International Inc. CA trimmed its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 446,627 shares of the pipeline company’s stock after selling 19,927 shares during the quarter. Capital International Inc. CA’s holdings in TC Energy were worth $20,804,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of TC Energy by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company’s stock worth $2,035,952,000 after acquiring an additional 734,678 shares during the period. FIL Ltd grew its position in TC Energy by 10.3% in the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company’s stock worth $1,325,558,000 after purchasing an additional 2,644,627 shares during the period. TD Asset Management Inc. raised its stake in TC Energy by 2.1% during the 4th quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company’s stock valued at $765,627,000 after buying an additional 344,485 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in TC Energy by 9.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company’s stock valued at $686,763,000 after buying an additional 1,280,000 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of TC Energy in the 4th quarter worth $428,759,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of NYSE TRP opened at $49.44 on Friday. 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 Co. has a 1 year low of $35.38 and a 1 year high of $50.37. The firm has a fifty day moving average price of $46.78 and a 200-day moving average price of $47.01. The stock has a market cap 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.

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

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.85 dividend. The ex-dividend date of this dividend 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 payout ratio is currently 72.84%.

Wall Street Analysts Forecast Growth

TRP has been the subject of a number of research reports. Citigroup initiated coverage on TC Energy in a research report on Friday, April 4th. They set a “neutral” rating for the company. StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Royal Bank of Canada boosted their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, TD Securities began coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

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.