TC Energy Corporation $TRP Shares Purchased by American Century Companies Inc.

American Century Companies Inc. increased its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 514.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,491,799 shares of the pipeline company’s stock after acquiring an additional 5,435,310 shares during the quarter. American Century Companies Inc.’s holdings in TC Energy were worth $352,976,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Pacifica Partners Inc. increased its stake in shares of TC Energy by 14.0% in the 3rd quarter. Pacifica Partners Inc. now owns 1,625 shares of the pipeline company’s stock worth $87,000 after acquiring an additional 200 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its position in shares of 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 valued at $544,000 after acquiring an additional 200 shares during the last quarter. Kingswood Wealth Advisors LLC grew its holdings in shares of TC Energy by 2.8% in the third 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 grew its holdings in shares of TC Energy by 3.4% in the third quarter. Checchi Capital Advisers LLC now owns 6,171 shares of the pipeline company’s stock valued at $336,000 after purchasing an additional 204 shares during the period. Finally, Ewing Morris & Co. Investment Partners Ltd. increased its position in TC Energy by 0.6% during the second 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 last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on TRP. TD Securities lowered shares of TC Energy from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. The Goldman Sachs Group upped their price objective on TC Energy from $48.00 to $53.00 and gave the company a “sell” rating in a report on Wednesday, February 18th. Citigroup reiterated a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. Finally, Scotiabank restated an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and an average price target of $72.50.

TC Energy Price Performance

Shares of TRP opened at $64.38 on Friday. The firm has a market capitalization of $67.03 billion, a price-to-earnings ratio of 27.70 and a beta of 0.73. The firm’s fifty day simple moving average is $57.89 and its 200-day simple moving average is $54.48. TC Energy Corporation has a twelve month low of $43.59 and a twelve month high of $64.92. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66.

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

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.51 annualized dividend and a dividend yield of 5.5%. This is an increase from TC Energy’s previous quarterly dividend of $0.85. TC Energy’s payout ratio is currently 106.90%.

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.