Capital International Investors decreased its position in shares of TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) by 12.0% in the fourth quarter, HoldingsChannel reports. The firm owned 26,188,429 shares of the pipeline company’s stock after selling 3,569,740 shares during the quarter. Capital International Investors’ holdings in TC Energy were worth $1,442,085,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of TC Energy during the fourth quarter valued at about $25,000. Trust Co. of Vermont purchased a new position in shares of TC Energy during the fourth quarter valued at about $28,000. McIlrath & Eck LLC purchased a new position in shares of TC Energy during the fourth quarter valued at about $32,000. Westside Investment Management Inc. grew its position in shares of TC Energy by 100.0% during the third quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 297 shares in the last quarter. Finally, SWAN Capital LLC purchased a new position in shares of TC Energy during the third quarter valued at about $40,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the stock. Raymond James Financial raised shares of TC Energy to a “hold” rating in a report on Tuesday, February 17th. Royal Bank Of Canada increased their price target on shares of TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of TC Energy in a report on Monday, February 16th. TD Securities reaffirmed a “hold” rating on shares of TC Energy in a report on Monday, May 4th. Finally, Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.
TC Energy Price Performance
Shares of TRP stock opened at $68.73 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57. The company has a market capitalization of $68.73 billion, a P/E ratio of 29.83 and a beta of 0.66. The company’s 50-day simple moving average is $65.10 and its two-hundred day simple moving average is $60.52. TC Energy Corporation has a one year low of $46.29 and a one year high of $71.47.
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last issued its earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same period in the prior year, the firm earned $0.95 EPS. As a group, equities analysts anticipate that TC Energy Corporation will post 2.75 EPS for the current year.
TC Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders 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 yield of 5.1%. The ex-dividend date is Tuesday, June 30th. TC Energy’s dividend payout ratio is currently 109.57%.
TC Energy Profile
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.
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