Capital Group Private Client Services Inc. Trims Stake in TC Energy Corporation $TRP

Capital Group Private Client Services Inc. reduced its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 8.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 226,619 shares of the pipeline company’s stock after selling 19,981 shares during the period. Capital Group Private Client Services Inc.’s holdings in TC Energy were worth $12,477,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TRP. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of TC Energy during the 4th quarter worth $25,000. Trust Co. of Vermont bought a new stake in shares of TC Energy during the 4th quarter worth $28,000. Westside Investment Management Inc. lifted its holdings in shares of TC Energy by 100.0% during the 3rd 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 last quarter. McIlrath & Eck LLC bought a new stake in shares of TC Energy during the 4th quarter worth $32,000. Finally, SWAN Capital LLC bought a new stake in shares of TC Energy during the 3rd quarter worth $40,000. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Performance

TC Energy stock opened at $68.73 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $68.73 billion, a PE ratio of 29.83 and a beta of 0.66. The firm has a fifty day simple moving average of $65.10 and a two-hundred day simple moving average of $60.52. TC Energy Corporation has a twelve month low of $46.29 and a twelve month high of $71.47.

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 the consensus estimate 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 net margin of 22.22% and a return on equity of 10.74%. During the same period in the previous year, the firm posted $0.95 earnings per share. Research analysts expect that TC Energy Corporation will post 2.75 EPS for the current year.

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 annualized dividend and a yield of 5.1%. TC Energy’s payout ratio is currently 109.57%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of TC Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Royal Bank Of Canada lifted their price objective on shares of TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. Weiss Ratings downgraded shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given 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.

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.