Capital International Sarl Sells 89,698 Shares of TC Energy Corporation $TRP

Capital International Sarl reduced its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 57.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,048 shares of the pipeline company’s stock after selling 89,698 shares during the period. Capital International Sarl’s holdings in TC Energy were worth $3,693,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC increased its holdings in shares of TC Energy by 54.0% during the first quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock worth $538,000 after buying an additional 3,892 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of TC Energy by 46.1% during the first quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock worth $588,000 after buying an additional 3,929 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of TC Energy by 200.7% during the first quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock worth $1,269,000 after buying an additional 17,939 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of TC Energy by 50.5% during the second quarter. EverSource Wealth Advisors LLC now owns 3,706 shares of the pipeline company’s stock worth $181,000 after buying an additional 1,243 shares in the last quarter. Finally, Guggenheim Capital LLC increased its holdings in shares of TC Energy by 9.9% during the second quarter. Guggenheim Capital LLC now owns 16,758 shares of the pipeline company’s stock worth $818,000 after buying an additional 1,511 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Performance

NYSE TRP opened at $68.73 on Monday. The company has a market capitalization of $68.73 billion, a price-to-earnings ratio of 29.83 and a beta of 0.66. TC Energy Corporation has a twelve month low of $46.29 and a twelve month high of $71.47. The stock has a fifty day simple moving average of $65.10 and a 200 day simple moving average of $60.57. 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 (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.20 billion. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.During the same period in the prior year, the business posted $0.95 earnings per share. Sell-side analysts expect that TC Energy Corporation will post 2.75 EPS for the current year.

TC Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued 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 presently 109.57%.

Analyst Upgrades and Downgrades

TRP has been the subject of several research analyst reports. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. National Bank Financial upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Weiss Ratings downgraded shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 4th. TD Securities reiterated a “hold” rating on shares of TC Energy in a report on Monday, May 4th. Finally, Citigroup reiterated a “neutral” rating on shares of TC Energy in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.50.

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.