Geode Capital Management LLC Buys 644,186 Shares of TC Energy Corporation $TRP

Geode Capital Management LLC lifted its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,026,008 shares of the pipeline company’s stock after acquiring an additional 644,186 shares during the quarter. Geode Capital Management LLC owned 0.96% of TC Energy worth $560,022,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of TC Energy in the fourth quarter worth approximately $25,000. Trust Co. of Vermont bought a new stake in shares of TC Energy in the fourth quarter worth approximately $28,000. Westside Investment Management Inc. grew its stake in shares of TC Energy by 100.0% in the third quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 297 shares during the period. McIlrath & Eck LLC bought a new stake in shares of TC Energy in the fourth quarter worth approximately $32,000. Finally, SWAN Capital LLC bought a new stake in shares of TC Energy in the third quarter worth approximately $40,000. 83.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TRP shares. Weiss Ratings lowered shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Wells Fargo & Company restated an “overweight” rating on shares of TC Energy in a research report on Monday, February 16th. Royal Bank Of Canada boosted their target price on shares of TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. National Bank Financial upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Finally, Wall Street Zen upgraded shares of TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $78.50.

TC Energy Stock Performance

TRP opened at $66.67 on Friday. The firm has a market cap of $66.67 billion, a P/E ratio of 28.94 and a beta of 0.67. TC Energy Corporation has a 1-year low of $46.29 and a 1-year high of $71.47. The company has a 50 day simple moving average of $64.71 and a two-hundred day simple moving average of $60.05. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The business 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 prior year, the business posted $0.95 earnings per share. Equities analysts forecast that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Tuesday, June 30th. TC Energy’s dividend payout ratio is presently 109.57%.

TC Energy 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.