TC Energy Corporation $TRP Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lowered its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 21.0% during the second quarter, Holdings Channel reports. The institutional investor owned 33,807 shares of the pipeline company’s stock after selling 8,983 shares during the period. Royal London Asset Management Ltd.’s holdings in TC Energy were worth $2,241,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TRP. AQR Capital Management LLC increased its holdings in TC Energy by 54.0% in the first quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock valued at $538,000 after buying an additional 3,892 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of TC Energy by 46.1% during the 1st quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock worth $588,000 after acquiring an additional 3,929 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of TC Energy by 200.7% in the 1st quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock worth $1,269,000 after acquiring an additional 17,939 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of TC Energy by 50.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,706 shares of the pipeline company’s stock worth $181,000 after acquiring an additional 1,243 shares during the period. Finally, Guggenheim Capital LLC increased its stake in TC Energy by 9.9% in the 2nd quarter. Guggenheim Capital LLC now owns 16,758 shares of the pipeline company’s stock valued at $818,000 after purchasing an additional 1,511 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on TRP shares. TD Securities reaffirmed a “hold” rating on shares of TC Energy in a report on Thursday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of TC Energy in a report on Friday, July 31st. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Morgan Stanley downgraded TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $99.00 price objective on shares of TC Energy in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, TC Energy has a consensus rating of “Moderate Buy” and an average target price of $89.00.

TC Energy Trading Up 1.0%

Shares of TC Energy stock opened at $63.18 on Wednesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54. TC Energy Corporation has a 1 year low of $49.27 and a 1 year high of $71.47. The company has a market capitalization of $65.83 billion, a P/E ratio of 26.22 and a beta of 0.66. The business has a 50 day moving average price of $66.09 and a 200 day moving average price of $65.41.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.During the same quarter in the prior year, the firm earned $0.82 EPS. Sell-side analysts anticipate that TC Energy Corporation will post 2.78 EPS for the current fiscal year.

TC Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be given a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Tuesday, September 29th. TC Energy’s dividend payout ratio is currently 102.49%.

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.