Capital International Ltd. CA Decreases Stake in TC Energy Corporation $TRP

Capital International Ltd. CA trimmed its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 43.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,633 shares of the pipeline company’s stock after selling 51,951 shares during the period. Capital International Ltd. CA’s holdings in TC Energy were worth $3,623,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Westside Investment Management Inc. grew its holdings in 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 purchasing an additional 297 shares during the period. Smartleaf Asset Management LLC grew its position in TC Energy by 237.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock worth $43,000 after purchasing an additional 565 shares during the period. Sagard Holdings Management Inc. bought a new position in TC Energy in the second quarter valued at about $46,000. City Holding Co. purchased a new position in shares of TC Energy in the third quarter worth approximately $72,000. Finally, First Horizon Corp purchased a new stake in TC Energy in the third quarter worth about $77,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Royal Bank Of Canada boosted their target price on shares of TC Energy from $84.00 to $92.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Weiss Ratings restated a “buy (b-)” rating on shares of TC Energy in a research report on Monday, December 29th. BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. Barclays reiterated an “overweight” rating on shares of TC Energy in a report on Friday, February 20th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of TC Energy in a report on Wednesday, January 28th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $72.50.

TC Energy Price Performance

NYSE:TRP opened at $63.31 on Tuesday. The firm has a market cap of $65.92 billion, a price-to-earnings ratio of 27.24 and a beta of 0.72. The firm’s fifty day moving average is $58.91 and its two-hundred day moving average is $55.08. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63. TC Energy Corporation has a one year low of $43.59 and a one year high of $65.57.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the firm posted $1.05 EPS. Research analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 annualized dividend and a dividend yield of 5.5%. TC Energy’s payout ratio is presently 106.90%.

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.