TC Energy Corporation $TRP Shares Sold by Capital Research Global Investors

Capital Research Global Investors reduced its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 23.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,172,117 shares of the pipeline company’s stock after selling 9,805,465 shares during the period. Capital Research Global Investors’ holdings in TC Energy were worth $1,771,495,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of TC Energy during the 4th quarter worth approximately $25,000. Trust Co. of Vermont acquired a new position in shares of TC Energy during the 4th quarter worth approximately $28,000. McIlrath & Eck LLC acquired a new position in shares of TC Energy during the 4th quarter worth approximately $32,000. Westside Investment Management Inc. boosted its holdings in shares of TC Energy by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 297 shares during the last quarter. Finally, SWAN Capital LLC acquired a new position in shares of TC Energy during the 3rd quarter worth approximately $40,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Down 0.3%

Shares of NYSE TRP opened at $68.73 on Friday. The firm has a market cap of $68.73 billion, a price-to-earnings ratio of 29.83 and a beta of 0.66. 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 business’s 50 day moving average is $65.10 and its two-hundred day moving average is $60.52.

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

TC Energy Dividend Announcement

The firm 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. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 annualized dividend and a dividend yield of 5.1%. TC Energy’s payout ratio is 109.57%.

Wall Street Analyst Weigh In

TRP has been the topic of several recent research reports. National Bank Financial upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Scotiabank restated an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. The Goldman Sachs Group upgraded TC Energy from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $53.00 to $62.00 in a report on Monday, April 20th. Wall Street Zen upgraded TC Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Royal Bank Of Canada boosted their target price on TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $78.50.

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.