Capital International Investors Sells 3,569,740 Shares of TC Energy Corporation $TRP

Capital International Investors lowered its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 12.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,188,429 shares of the pipeline company’s stock after selling 3,569,740 shares during the period. Capital International Investors owned about 2.52% of TC Energy worth $1,442,085,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Tacita Capital Inc grew its holdings in shares of TC Energy by 0.6% in the fourth quarter. Tacita Capital Inc now owns 65,226 shares of the pipeline company’s stock worth $3,594,000 after acquiring an additional 383 shares during the period. Argonautica Private Wealth Management Inc. grew its holdings in shares of TC Energy by 42.7% in the fourth quarter. Argonautica Private Wealth Management Inc. now owns 12,398 shares of the pipeline company’s stock worth $682,000 after acquiring an additional 3,711 shares during the period. Vise Technologies Inc. grew its holdings in shares of TC Energy by 55.2% in the fourth quarter. Vise Technologies Inc. now owns 15,431 shares of the pipeline company’s stock worth $849,000 after acquiring an additional 5,487 shares during the period. TD Asset Management Inc grew its holdings in shares of TC Energy by 6.3% in the fourth quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock worth $1,150,656,000 after acquiring an additional 1,244,525 shares during the period. Finally, Sivia Capital Partners LLC bought a new stake in shares of TC Energy in the fourth quarter worth $223,000. Institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

TRP has been the subject of several research analyst reports. Wells Fargo & Company reaffirmed an “overweight” rating on shares of TC Energy in a report on Monday, February 16th. Raymond James Financial upgraded TC Energy to a “hold” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada lifted their target price on TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. BMO Capital Markets reiterated an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Finally, TD Securities reiterated a “hold” rating on shares of TC Energy in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.50.

TC Energy Price Performance

NYSE:TRP 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 business’s 50-day simple moving average is $65.10 and its two-hundred day simple moving average is $60.52. The stock has a market cap of $68.73 billion, a PE ratio of 29.83 and a beta of 0.66. TC Energy Corporation has a 52 week low of $46.29 and a 52 week 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 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations 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 last year, the firm earned $0.95 earnings per share. As a group, analysts forecast that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Dividend Announcement

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 issued a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a yield of 5.1%. TC Energy’s dividend payout ratio (DPR) is currently 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.