Bessemer Group Inc. trimmed its holdings in shares of TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 828,134 shares of the pipeline company’s stock after selling 18,618 shares during the quarter. Bessemer Group Inc.’s holdings in TC Energy were worth $45,635,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Mesirow Financial Investment Management Inc. grew its holdings in TC Energy by 2.0% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock worth $544,000 after acquiring an additional 200 shares during the last quarter. Gold Investment Management Ltd. grew its holdings in TC Energy by 2.0% during the 4th quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock worth $549,000 after acquiring an additional 200 shares during the last quarter. Kennebec Savings Bank grew its holdings in TC Energy by 2.1% during the 4th quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock worth $542,000 after acquiring an additional 203 shares during the last quarter. Checchi Capital Advisers LLC grew its holdings in TC Energy by 3.4% during the 3rd quarter. Checchi Capital Advisers LLC now owns 6,171 shares of the pipeline company’s stock worth $336,000 after acquiring an additional 204 shares during the last quarter. Finally, JCIC Asset Management Inc. grew its holdings in TC Energy by 6.2% during the 4th quarter. JCIC Asset Management Inc. now owns 3,746 shares of the pipeline company’s stock worth $206,000 after acquiring an additional 220 shares during the last quarter. 83.13% of the stock is owned by institutional investors.
TC Energy Trading Up 0.1%
NYSE:TRP opened at $68.23 on Friday. The firm’s fifty day moving average is $63.58 and its 200-day moving average is $58.73. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65. TC Energy Corporation has a 52 week low of $46.29 and a 52 week high of $68.30. The firm has a market cap of $68.23 billion, a P/E ratio of 29.61 and a beta of 0.67.
TC Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s dividend payout ratio is currently 109.57%.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on TRP shares. Scotiabank reissued an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. Royal Bank Of Canada boosted their target price on shares of TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Citigroup reissued a “neutral” rating on shares of TC Energy in a report on Thursday, February 19th. BMO Capital Markets reissued an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. Finally, The Goldman Sachs Group raised shares of TC Energy from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $53.00 to $62.00 in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, TC Energy currently has an average rating of “Moderate Buy” and a consensus target price of $78.50.
View Our Latest Stock Report on TRP
About TC Energy
TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.
The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.
Featured Articles
- Five stocks we like better than TC Energy
- Viking Sails to All-Time Highs—Fundamentals Signal More to Come
- Datavalut Gains Traction: 5 Reasons to Sell Now
- TMC Stock: Why This Pre-Revenue Miner Is Worth Watching
- The Power Grid Is Dying—Is It Time to Buy Its Replacement?
Want to see what other hedge funds are holding TRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP).
Receive News & Ratings for TC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TC Energy and related companies with MarketBeat.com's FREE daily email newsletter.
