TC Energy Corporation $TRP Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. raised its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,821,474 shares of the pipeline company’s stock after purchasing an additional 914,168 shares during the quarter. Vanguard Group Inc. owned about 4.50% of TC Energy worth $2,545,777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank bought a new stake in shares of TC Energy during the second quarter valued at about $493,434,000. Public Sector Pension Investment Board boosted its stake in shares of TC Energy by 2,573.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 2,680,572 shares of the pipeline company’s stock worth $130,600,000 after acquiring an additional 2,580,300 shares in the last quarter. Acadian Asset Management LLC purchased a new position in TC Energy in the 2nd quarter worth about $104,628,000. Picton Mahoney Asset Management acquired a new stake in shares of TC Energy during the second quarter valued at approximately $100,398,000. Finally, Nicola Wealth Management LTD. raised its stake in TC Energy by 793.7% during the 3rd quarter. Nicola Wealth Management LTD. now owns 2,302,996 shares of the pipeline company’s stock valued at $125,229,000 after purchasing an additional 2,045,300 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TRP shares. Barclays reissued an “overweight” rating on shares of TC Energy in a research report on Friday. National Bank Financial lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday. Citigroup reissued a “neutral” rating on shares of TC Energy in a research note on Thursday. Finally, Royal Bank Of Canada upped their price target on shares of TC Energy from $84.00 to $92.00 and gave the stock an “outperform” rating in a research note on Tuesday. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $72.50.

TC Energy Price Performance

NYSE TRP opened at $62.51 on Friday. TC Energy Corporation has a 1 year low of $43.59 and a 1 year high of $63.94. The company has a fifty day simple moving average of $56.81 and a 200 day simple moving average of $53.90. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. The company has a market cap of $65.09 billion, a P/E ratio of 26.90 and a beta of 0.73.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.94 billion. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. During the same period in the prior year, the company earned $1.05 earnings per share. On average, sell-side analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.51 annualized dividend and a yield of 5.6%. This is an increase from TC Energy’s previous quarterly dividend of $0.85. TC Energy’s dividend payout ratio (DPR) is presently 106.90%.

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.