Bradley Foster & Sargent Inc. CT grew its stake in TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) by 10.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 442,065 shares of the pipeline company’s stock after buying an additional 41,133 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in TC Energy were worth $27,673,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its stake in TC Energy by 80.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 526,181 shares of the pipeline company’s stock valued at $28,945,000 after purchasing an additional 234,594 shares during the last quarter. Generali Asset Management SPA SGR raised its stake in shares of TC Energy by 261.0% in the fourth quarter. Generali Asset Management SPA SGR now owns 74,906 shares of the pipeline company’s stock worth $4,121,000 after purchasing an additional 54,154 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of TC Energy by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock worth $2,632,200,000 after purchasing an additional 980,221 shares during the last quarter. Miller Howard Investments Inc. NY lifted its holdings in shares of TC Energy by 14.0% during the first quarter. Miller Howard Investments Inc. NY now owns 1,294,518 shares of the pipeline company’s stock worth $81,037,000 after purchasing an additional 158,686 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of TC Energy by 1.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 4,806,132 shares of the pipeline company’s stock worth $263,516,000 after purchasing an additional 58,624 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.
TC Energy Stock Up 0.9%
Shares of TRP opened at $70.58 on Friday. The company has a market capitalization of $73.54 billion, a price-to-earnings ratio of 30.63 and a beta of 0.66. TC Energy Corporation has a 52 week low of $46.61 and a 52 week high of $71.47. The stock’s 50-day moving average price is $68.61 and its 200-day moving average price is $63.93. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67.
TC Energy Announces Dividend
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 dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.0%. TC Energy’s dividend payout ratio (DPR) is presently 107.39%.
Analyst Upgrades and Downgrades
TRP has been the topic of a number of recent research reports. Royal Bank Of Canada upped their target price on TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. The Goldman Sachs Group upgraded shares of TC Energy from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $53.00 to $62.00 in a research note on Monday, April 20th. Morgan Stanley cut shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a report on Thursday, July 16th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.
Read Our Latest Stock Analysis on TRP
TC Energy Company 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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