TC Energy Corporation $TRP Stake Decreased by SIR Capital Management L.P.

SIR Capital Management L.P. cut its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 39.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 502,246 shares of the pipeline company’s stock after selling 323,036 shares during the quarter. TC Energy accounts for 3.1% of SIR Capital Management L.P.’s portfolio, making the stock its 10th biggest holding. SIR Capital Management L.P.’s holdings in TC Energy were worth $27,629,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in TC Energy by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock worth $2,632,200,000 after purchasing an additional 980,221 shares during the last quarter. Capital Research Global Investors raised its holdings in TC Energy by 2.5% during the third quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock worth $2,282,469,000 after purchasing an additional 1,041,864 shares during the last quarter. TD Asset Management Inc raised its holdings in TC Energy by 6.3% during the fourth quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock worth $1,150,656,000 after purchasing an additional 1,244,525 shares during the last quarter. Deutsche Bank AG raised its holdings in TC Energy by 63.2% during the fourth quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company’s stock worth $846,288,000 after purchasing an additional 5,956,263 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in TC Energy by 4.4% during the third quarter. Mackenzie Financial Corp now owns 13,351,862 shares of the pipeline company’s stock worth $725,816,000 after purchasing an additional 557,794 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Up 0.1%

Shares of NYSE:TRP opened at $69.39 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. TC Energy Corporation has a 52-week low of $46.29 and a 52-week high of $71.47. The stock’s fifty day simple moving average is $65.69 and its 200-day simple moving average is $61.03. The company has a market capitalization of $69.39 billion, a P/E ratio of 30.12 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The business had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the business earned $0.95 earnings per share. As a group, equities research analysts forecast that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Tuesday, June 30th. TC Energy’s dividend payout ratio is currently 109.57%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TRP shares. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. National Bank Financial raised TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a report on Monday, May 4th. The Goldman Sachs Group raised TC Energy from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $53.00 to $62.00 in a report on Monday, April 20th. Finally, Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $78.50.

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.