Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) by 41.3% in the 3rd quarter, Holdings Channel reports. The firm owned 18,321 shares of the pipeline company’s stock after selling 12,911 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in TC Energy were worth $1,059,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in TRP. Canada Pension Plan Investment Board acquired a new stake in TC Energy during the 2nd quarter worth $1,148,244,000. GQG Partners LLC acquired a new stake in shares of TC Energy in the second quarter valued at about $1,107,936,000. Deutsche Bank AG lifted its stake in shares of TC Energy by 1.3% in the second quarter. Deutsche Bank AG now owns 15,821,521 shares of the pipeline company’s stock worth $1,048,809,000 after buying an additional 196,543 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of TC Energy in the second quarter worth about $977,976,000. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of TC Energy by 0.4% in the third quarter. TD Waterhouse Canada Inc. now owns 10,660,905 shares of the pipeline company’s stock worth $623,355,000 after buying an additional 40,969 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.
Key TC Energy News
Here are the key news stories impacting TC Energy this week:
- Positive Sentiment: Third-quarter EPS of $0.67 beat the $0.64 consensus, while revenue of $2.88 billion exceeded estimates of $2.79 billion. TC Energy Surpasses Q3 Earnings and Revenue Estimates
- Positive Sentiment: TC Energy raised its 2026 profit outlook, extended its outlook through 2031, and announced about C$3 billion in new pipeline growth projects. Stronger guidance and planned investment may support future earnings growth. TC Energy raises 2026 profit outlook and announces projects
- Positive Sentiment: The company declared a quarterly dividend of C$0.88 per share, equivalent to an indicated annualized yield of about 5.6%, which may appeal to income-focused investors.
- Positive Sentiment: Management plans to unveil a further NGTL expansion proposal in December, adding a potential source of future pipeline investment and growth. TC Energy to unveil NGTL expansion plan
- Neutral Sentiment: Despite the favorable earnings and outlook news, TRP was lower in the supplied trading snapshot. The provided coverage does not point to a clear company-specific negative headline explaining the decline.
TC Energy Trading Down 1.0%
Shares of TRP opened at $61.95 on Friday. The firm has a 50-day moving average price of $61.34 and a 200 day moving average price of $63.84. The firm has a market capitalization of $61.95 billion, a P/E ratio of 23.03 and a beta of 0.64. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64. TC Energy Corporation has a 12-month low of $50.72 and a 12-month high of $71.47.
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 5th. The pipeline company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.03. TC Energy had a net margin of 25.05% and a return on equity of 11.68%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same period in the previous year, the firm earned $0.77 EPS. Sell-side analysts forecast that TC Energy Corporation will post 2.81 EPS for the current year.
TC Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Investors of record on Thursday, December 31st will be paid a dividend of C$0.88 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Thursday, December 31st. TC Energy’s dividend payout ratio is presently 104.98%.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on TRP. Raymond James Financial restated a “market perform” rating on shares of TC Energy in a research report on Wednesday, September 16th. TD Securities reiterated a “buy” rating on shares of TC Energy in a report on Friday, October 16th. Weiss Ratings reissued a “buy (b)” rating on shares of TC Energy in a research note on Thursday, October 29th. Canadian Imperial Bank of Commerce set a $99.00 target price on shares of TC Energy in a research note on Thursday, October 22nd. Finally, Wall Street Zen cut TC Energy from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $93.75.
View Our Latest Stock Analysis on TRP
TC Energy Company Profile
TC Energy (NYSE: TRP) is a North American energy infrastructure company that develops and operates natural gas and liquids pipelines, natural gas storage facilities, and power-generation assets. Its services help transport and store energy for producers, utilities, businesses, and consumers.
The company’s pipeline network spans Canada, the United States, and Mexico. Its power-generation portfolio includes an interest in Bruce Power, which operates a nuclear generating station in Ontario.
Founded as TransCanada Corporation, the company adopted the TC Energy name in 2019.
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