TC Energy Corporation $TRP Shares Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. grew its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 167.0% during the fourth quarter, Holdings Channel reports. The firm owned 41,484 shares of the pipeline company’s stock after purchasing an additional 25,949 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in TC Energy were worth $2,282,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake 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 period. Capital Research Global Investors increased its stake 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 period. TD Asset Management Inc increased its stake in TC Energy by 2.9% during the third quarter. TD Asset Management Inc now owns 19,624,247 shares of the pipeline company’s stock worth $1,067,246,000 after purchasing an additional 550,066 shares during the period. Mackenzie Financial Corp increased its stake 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 period. Finally, JPMorgan Chase & Co. increased its stake in TC Energy by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 11,237,084 shares of the pipeline company’s stock worth $611,410,000 after purchasing an additional 512,759 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TRP has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded shares of TC Energy from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $53.00 to $62.00 in a research note on Monday, April 20th. Raymond James Financial upgraded shares of TC Energy to a “hold” rating in a research note on Tuesday, February 17th. Weiss Ratings lowered shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 4th. National Bank Financial upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Finally, Morgan Stanley restated an “overweight” rating on shares of TC Energy in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.50.

TC Energy Stock Down 2.0%

TRP stock opened at $69.52 on Wednesday. The company’s 50 day moving average price is $64.50 and its 200 day moving average price is $59.77. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65. TC Energy Corporation has a fifty-two week low of $46.29 and a fifty-two week high of $71.47. The firm has a market capitalization of $69.52 billion, a price-to-earnings ratio of 30.17 and a beta of 0.67.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the firm earned $0.95 earnings per share. On average, equities research analysts anticipate that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 5.0%. The ex-dividend date is Tuesday, June 30th. TC Energy’s dividend payout ratio is currently 109.57%.

About TC Energy

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.