Capital World Investors Cuts Position in TC Energy Corporation $TRP

Capital World Investors reduced its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 13.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,310,696 shares of the pipeline company’s stock after selling 1,162,129 shares during the period. Capital World Investors owned about 0.70% of TC Energy worth $397,673,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TRP. AQR Capital Management LLC boosted its position in TC Energy by 54.0% during the 1st quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock valued at $538,000 after buying an additional 3,892 shares during the period. Focus Partners Wealth boosted its position in shares of TC Energy by 46.1% during the first quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock valued at $588,000 after purchasing an additional 3,929 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of TC Energy by 200.7% during the 1st quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock valued at $1,269,000 after buying an additional 17,939 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in TC Energy by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 918,293 shares of the pipeline company’s stock worth $44,804,000 after purchasing an additional 3,052 shares during the period. Finally, Savant Capital LLC purchased a new stake in shares of TC Energy in the 2nd quarter worth approximately $271,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Up 0.5%

NYSE:TRP opened at $63.69 on Wednesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.63 and a quick ratio of 0.56. The company has a 50-day moving average of $59.06 and a 200 day moving average of $55.17. TC Energy Corporation has a 1-year low of $43.59 and a 1-year high of $65.57. The firm has a market cap of $66.31 billion, a PE ratio of 27.40 and a beta of 0.72.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the previous year, the firm earned $1.05 earnings per share. As a group, research analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TRP shares. Raymond James Financial upgraded shares of TC Energy to a “hold” rating in a report on Tuesday, February 17th. The Goldman Sachs Group raised their target price on TC Energy from $48.00 to $53.00 and gave the stock a “sell” rating in a report on Wednesday, February 18th. TD Securities cut shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Wall Street Zen upgraded TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a research note on Monday, December 29th. 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $72.50.

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.