Capital International Sarl Sells 83,704 Shares of TC Energy Corporation $TRP

Capital International Sarl trimmed its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 34.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,746 shares of the pipeline company’s stock after selling 83,704 shares during the quarter. Capital International Sarl’s holdings in TC Energy were worth $8,524,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Westside Investment Management Inc. grew its position in shares of TC Energy by 100.0% during 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 in the last quarter. Smartleaf Asset Management LLC increased its position in TC Energy by 237.4% in the third 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 last quarter. Sagard Holdings Management Inc. bought a new stake in shares of TC Energy in the 2nd quarter worth about $46,000. City Holding Co. bought a new stake in TC Energy during the third quarter worth approximately $72,000. Finally, First Horizon Corp purchased a new stake in TC Energy during the 3rd quarter valued at $77,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Scotiabank restated an “outperform” rating on shares of TC Energy in a report on Tuesday, February 17th. Wells Fargo & Company reissued an “overweight” rating on shares of TC Energy in a research report on Monday, February 16th. Citigroup restated a “neutral” rating on shares of TC Energy in a research note on Thursday, February 19th. TD Securities lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Royal Bank Of Canada increased 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. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $72.50.

TC Energy Trading Up 0.5%

Shares of NYSE:TRP opened at $63.69 on Wednesday. The company has a market capitalization of $66.31 billion, a PE ratio of 27.40 and a beta of 0.72. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. TC Energy Corporation has a 12-month low of $43.59 and a 12-month high of $65.57. The business’s fifty day simple moving average is $59.06 and its 200-day simple moving average is $55.17.

TC Energy (NYSE:TRP) (TSE:TRP) last issued 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. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.94 billion. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.During the same quarter last year, the company earned $1.05 earnings per share. As a group, equities research analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.8775 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.85. The ex-dividend date is Tuesday, March 31st. This represents a $3.51 annualized dividend and a dividend yield of 5.5%. TC Energy’s dividend payout ratio (DPR) is presently 106.90%.

TC Energy Company 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.