Citigroup Inc. Acquires 61,013 Shares of TC Energy Corporation $TRP

Citigroup Inc. raised its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 19.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 378,086 shares of the pipeline company’s stock after purchasing an additional 61,013 shares during the period. Citigroup Inc.’s holdings in TC Energy were worth $20,562,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Pacifica Partners Inc. raised its holdings in shares of TC Energy by 14.0% during the third quarter. Pacifica Partners Inc. now owns 1,625 shares of the pipeline company’s stock valued at $87,000 after acquiring an additional 200 shares in the last quarter. Kingswood Wealth Advisors LLC increased its position in TC Energy by 2.8% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock valued at $399,000 after purchasing an additional 202 shares during the period. Checchi Capital Advisers LLC raised its holdings in TC Energy by 3.4% in the 3rd quarter. Checchi Capital Advisers LLC now owns 6,171 shares of the pipeline company’s stock worth $336,000 after purchasing an additional 204 shares in the last quarter. Ewing Morris & Co. Investment Partners Ltd. lifted its position in shares of TC Energy by 0.6% in the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 37,962 shares of the pipeline company’s stock worth $1,873,000 after purchasing an additional 234 shares during the period. Finally, Valicenti Advisory Services Inc. boosted its stake in shares of TC Energy by 0.5% during the 3rd quarter. Valicenti Advisory Services Inc. now owns 50,195 shares of the pipeline company’s stock valued at $2,731,000 after purchasing an additional 240 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TRP shares. Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Friday, February 20th. Citigroup restated a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. Wall Street Zen upgraded TC Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of TC Energy in a research report on Monday, February 16th. Finally, TD Securities downgraded TC Energy from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $72.50.

TC Energy Stock Performance

TRP stock opened at $63.01 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.63 and a quick ratio of 0.56. TC Energy Corporation has a 1 year low of $43.59 and a 1 year high of $63.94. The company has a market cap of $65.61 billion, a P/E ratio of 27.11 and a beta of 0.73. The stock’s fifty day moving average price is $57.69 and its 200-day moving average price is $54.38.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.94 billion. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.During the same period last year, the firm posted $1.05 earnings per share. On average, equities analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.6%. This is a positive change from TC Energy’s previous quarterly dividend of $0.85. The ex-dividend date is Tuesday, March 31st. TC Energy’s dividend payout ratio (DPR) is presently 106.90%.

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.