Capital World Investors Boosts Stock Holdings in TC Energy Corporation $TRP

Capital World Investors grew its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 0.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,327,124 shares of the pipeline company’s stock after buying an additional 16,428 shares during the period. Capital World Investors owned 0.70% of TC Energy worth $403,216,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. boosted its holdings in shares of TC Energy by 38.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 88,140 shares of the pipeline company’s stock valued at $4,796,000 after buying an additional 24,617 shares in the last quarter. Citigroup Inc. boosted its stake in TC Energy by 19.2% in the 3rd quarter. Citigroup Inc. now owns 378,086 shares of the pipeline company’s stock worth $20,562,000 after purchasing an additional 61,013 shares in the last quarter. Vanguard Group Inc. boosted its stake in TC Energy by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company’s stock worth $2,545,777,000 after purchasing an additional 914,168 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in TC Energy by 80.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 526,181 shares of the pipeline company’s stock worth $28,945,000 after purchasing an additional 234,594 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in TC Energy by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,237,084 shares of the pipeline company’s stock worth $611,410,000 after purchasing an additional 512,759 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Barclays reiterated an “overweight” rating on shares of TC Energy in a research note on Monday, May 4th. Citigroup restated a “neutral” rating on shares of TC Energy in a research note on Thursday, February 19th. TD Securities restated a “hold” rating on shares of TC Energy in a research note on Monday, May 4th. Wall Street Zen upgraded shares of TC Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, TC Energy has an average rating of “Moderate Buy” and an average price target of $78.50.

TC Energy Price Performance

NYSE:TRP opened at $68.73 on Monday. 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 firm has a market cap of $68.73 billion, a price-to-earnings ratio of 29.83 and a beta of 0.66. The company has a 50 day moving average price of $65.10 and a 200-day moving average price of $60.57. TC Energy Corporation has a 1-year low of $46.29 and a 1-year high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates 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 previous year, the firm earned $0.95 EPS. Equities research analysts forecast that TC Energy Corporation will post 2.75 EPS for the current year.

TC Energy Announces Dividend

The firm also recently announced 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. This represents a $3.51 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s dividend payout ratio is presently 109.57%.

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.