Lansforsakringar Fondforvaltning AB publ Buys 15,477 Shares of TC Energy Corporation $TRP

Lansforsakringar Fondforvaltning AB publ grew its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 7.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,810 shares of the pipeline company’s stock after purchasing an additional 15,477 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in TC Energy were worth $12,770,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Citigroup Inc. raised its holdings in TC Energy by 19.2% in the 3rd quarter. Citigroup Inc. now owns 378,086 shares of the pipeline company’s stock valued at $20,562,000 after acquiring an additional 61,013 shares during the period. Wealth Alliance LLC increased its stake in shares of TC Energy by 3.7% during the third quarter. Wealth Alliance LLC now owns 20,105 shares of the pipeline company’s stock worth $1,094,000 after purchasing an additional 724 shares during the period. Essex Financial Services Inc. acquired a new stake in TC Energy during the 3rd quarter worth approximately $204,000. Syon Capital LLC grew its holdings in TC Energy by 46.1% in the 3rd quarter. Syon Capital LLC now owns 7,547 shares of the pipeline company’s stock valued at $411,000 after buying an additional 2,383 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in TC Energy by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company’s stock worth $2,545,777,000 after buying an additional 914,168 shares during the period. Institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on TRP. Raymond James Financial upgraded shares of TC Energy to a “hold” rating in a research note on Tuesday, February 17th. National Bank Financial lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Morgan Stanley reiterated an “overweight” rating on shares of TC Energy in a research report on Wednesday, January 28th. Royal Bank Of Canada increased their price target on TC Energy from $84.00 to $92.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce lowered TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $72.50.

TC Energy Stock Up 1.2%

Shares of TRP opened at $63.17 on Tuesday. The firm has a 50 day simple moving average of $57.13 and a two-hundred day simple moving average of $54.16. The company has a market cap of $65.77 billion, a P/E ratio of 27.18 and a beta of 0.73. TC Energy Corporation has a one year low of $43.59 and a one year high of $63.94. 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 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 company had revenue of $2.20 billion during 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 quarter in the previous year, the firm earned $1.05 EPS. Research analysts forecast that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business 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 $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Tuesday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.85. TC Energy’s dividend payout ratio is 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.