Capital Research Global Investors Acquires 1,041,864 Shares of TC Energy Corporation $TRP

Capital Research Global Investors grew its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,977,582 shares of the pipeline company’s stock after purchasing an additional 1,041,864 shares during the quarter. Capital Research Global Investors’ holdings in TC Energy were worth $2,282,469,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Westside Investment Management Inc. increased its holdings in 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 buying an additional 297 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of TC Energy by 237.4% in the third quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 565 shares in the last quarter. Sagard Holdings Management Inc. purchased a new stake in TC Energy during the 2nd quarter worth about $46,000. City Holding Co. bought a new position in TC Energy in the 3rd quarter worth about $72,000. Finally, First Horizon Corp bought a new stake in shares of TC Energy during the third quarter valued at about $77,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Trading Down 0.6%

TRP opened at $63.31 on Tuesday. TC Energy Corporation has a 52 week low of $43.59 and a 52 week high of $65.57. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 1.66. The business has a 50 day moving average of $58.91 and a 200-day moving average of $55.08. The stock has a market cap of $65.92 billion, a PE ratio of 27.24 and a beta of 0.72.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly 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 firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations 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 firm posted $1.05 EPS. 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 declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.8775 per share. The ex-dividend date is Tuesday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.5%. TC Energy’s dividend payout ratio is currently 106.90%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TRP shares. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a report on Tuesday, February 17th. The Goldman Sachs Group lifted their price objective on TC Energy from $48.00 to $53.00 and gave the company a “sell” rating in a research note on Wednesday, February 18th. Royal Bank Of Canada raised their target price 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. TD Securities lowered shares of TC Energy from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Morgan Stanley reissued an “overweight” rating on shares of TC Energy in a research note on Wednesday, January 28th. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, TC Energy has an average rating of “Hold” and a consensus target price 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.