Bessemer Group Inc. Purchases 33,964 Shares of TC Energy Corporation $TRP

Bessemer Group Inc. grew its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 862,098 shares of the pipeline company’s stock after buying an additional 33,964 shares during the quarter. Bessemer Group Inc. owned 0.08% of TC Energy worth $53,800,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of TRP. Vanguard Group Inc. increased its holdings in TC Energy by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock valued at $2,632,200,000 after purchasing an additional 980,221 shares in the last quarter. FIL Ltd raised its position in TC Energy by 3.9% in the 4th quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company’s stock valued at $1,558,669,000 after purchasing an additional 1,052,166 shares during the last quarter. TD Asset Management Inc boosted its stake in 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 purchasing an additional 1,244,525 shares in the last quarter. GQG Partners LLC boosted its stake in TC Energy by 586.5% in the fourth quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock worth $890,711,000 after purchasing an additional 13,801,371 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of TC Energy by 63.2% during the fourth quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company’s stock worth $846,288,000 after purchasing an additional 5,956,263 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Trading Down 0.2%

TRP stock opened at $69.75 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65. TC Energy Corporation has a 52 week low of $46.61 and a 52 week high of $71.47. The company’s 50-day simple moving average is $68.37 and its 200 day simple moving average is $63.44. The company has a market capitalization of $72.68 billion, a PE ratio of 30.28 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last issued 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. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the firm posted $0.95 EPS. As a group, sell-side analysts anticipate that TC Energy Corporation will post 2.72 earnings per share for the current year.

TC Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors 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 dividend yield of 5.0%. TC Energy’s payout ratio is currently 107.39%.

Wall Street Analyst Weigh In

TRP has been the subject of several research analyst reports. Weiss Ratings cut shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 4th. The Goldman Sachs Group upgraded shares of TC Energy from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $53.00 to $62.00 in a report on Monday, April 20th. TD Securities restated a “hold” rating on shares of TC Energy in a report on Thursday. Scotiabank restated an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus target price 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.