TC Energy Corporation $TRP Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 4.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,078 shares of the pipeline company’s stock after acquiring an additional 1,768 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in TC Energy were worth $1,955,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of TC Energy by 1.6% in the first quarter. Vanguard Group Inc. now owns 44,397,978 shares of the pipeline company’s stock worth $2,096,739,000 after acquiring an additional 710,837 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of TC Energy by 34.2% during the first quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock worth $935,627,000 after purchasing an additional 5,053,228 shares in the last quarter. TD Asset Management Inc increased its stake in shares of TC Energy by 9.3% during the second quarter. TD Asset Management Inc now owns 19,074,181 shares of the pipeline company’s stock worth $929,316,000 after purchasing an additional 1,618,441 shares in the last quarter. Bank of Nova Scotia increased its stake in shares of TC Energy by 80.3% during the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock worth $802,164,000 after purchasing an additional 7,562,887 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of TC Energy by 2,565.1% during the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock worth $769,815,000 after purchasing an additional 15,694,336 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

TC Energy stock opened at $50.48 on Friday. The firm has a 50 day simple moving average of $52.27 and a 200-day simple moving average of $50.23. TC Energy Corporation has a 1-year low of $43.51 and a 1-year high of $55.37. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The stock has a market cap of $52.53 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 4.82 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the prior year, the company posted $0.79 EPS. On average, analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Wall Street Zen cut shares of TC Energy from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of TC Energy in a research note on Wednesday, October 8th. TD Securities reissued a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. US Capital Advisors cut shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 21st. Finally, Cibc World Mkts cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, TC Energy presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

TC Energy 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.