TC Energy Corporation $TRP Shares Sold by Capital Research Global Investors

Capital Research Global Investors lowered its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 23.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 32,172,117 shares of the pipeline company’s stock after selling 9,805,465 shares during the quarter. Capital Research Global Investors owned about 3.09% of TC Energy worth $1,771,495,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in TC Energy during the 4th quarter worth about $25,000. Trust Co. of Vermont acquired a new stake in TC Energy during the 4th quarter worth about $28,000. McIlrath & Eck LLC acquired a new stake in TC Energy during the 4th quarter worth about $32,000. Westside Investment Management Inc. lifted its position in 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 period. Finally, SWAN Capital LLC acquired a new stake in TC Energy during the 3rd quarter worth about $40,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Trading Down 0.3%

TRP stock opened at $68.73 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67. TC Energy Corporation has a 12-month low of $46.29 and a 12-month high of $71.47. The stock has a market cap of $68.73 billion, a price-to-earnings ratio of 29.83 and a beta of 0.66. The business’s 50-day moving average is $65.10 and its 200 day moving average is $60.52.

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 (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the firm posted $0.95 EPS. On average, sell-side analysts anticipate that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Announces Dividend

The company 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 annualized dividend and a yield of 5.1%. The ex-dividend date is Tuesday, June 30th. TC Energy’s payout ratio is presently 109.57%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. National Bank Financial upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. Raymond James Financial upgraded TC Energy to a “hold” rating in a research note on Tuesday, February 17th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $78.50.

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.