TC Energy Corporation $TRP Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 11.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 777,422 shares of the pipeline company’s stock after acquiring an additional 78,000 shares during the period. Russell Investments Group Ltd.’s holdings in TC Energy were worth $42,262,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy 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 company a “sell” rating in a report on Wednesday, February 18th. Canadian Imperial Bank of Commerce lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a research note on Thursday, February 19th. Finally, Royal Bank Of Canada raised their price objective on shares of TC Energy from $84.00 to $92.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, TC Energy presently has an average rating of “Hold” and an average price target of $72.50.

TC Energy Stock Performance

NYSE TRP opened at $63.14 on Thursday. TC Energy Corporation has a 1-year low of $43.59 and a 1-year high of $65.57. The company has a market capitalization of $65.74 billion, a P/E ratio of 27.17 and a beta of 0.72. The business has a 50 day moving average price of $59.22 and a 200 day moving average price of $55.23. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.63 and a quick ratio of 0.56.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, topping 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 period in the previous year, the business earned $1.05 earnings per share. Sell-side analysts expect 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. Stockholders 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 of this dividend is Tuesday, March 31st. This represents a $3.51 annualized dividend and a dividend yield of 5.6%. TC Energy’s dividend payout ratio is presently 110.78%.

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.