Bank of New York Mellon Corp Has $43.21 Million Stake in TC Energy Corporation (NYSE:TRP)

Bank of New York Mellon Corp raised its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 915,241 shares of the pipeline company's stock after buying an additional 10,227 shares during the quarter. Bank of New York Mellon Corp owned 0.09% of TC Energy worth $43,209,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its stake in shares of TC Energy by 5.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 10,177 shares of the pipeline company's stock worth $474,000 after acquiring an additional 526 shares during the last quarter. Avantax Advisory Services Inc. increased its position in TC Energy by 9.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 9,564 shares of the pipeline company's stock worth $445,000 after purchasing an additional 829 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of TC Energy by 40.6% during the 4th quarter. Natixis Advisors LLC now owns 69,520 shares of the pipeline company's stock worth $3,235,000 after purchasing an additional 20,082 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of TC Energy by 1.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 65,323 shares of the pipeline company's stock valued at $3,041,000 after buying an additional 704 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in shares of TC Energy by 7.7% in the 4th quarter. Corient Private Wealth LLC now owns 32,718 shares of the pipeline company's stock valued at $1,522,000 after buying an additional 2,342 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Stock Performance

Shares of NYSE TRP traded up $1.11 during trading hours on Monday, hitting $48.40. 2,061,982 shares of the stock were exchanged, compared to its average volume of 2,477,430. TC Energy Corporation has a one year low of $35.44 and a one year high of $51.99. The company's 50 day moving average is $49.13 and its 200 day moving average is $47.79. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.70 and a quick ratio of 0.63. The firm has a market capitalization of $50.34 billion, a P/E ratio of 15.97, a P/E/G ratio of 4.51 and a beta of 0.76.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). TC Energy had a net margin of 29.17% and a return on equity of 11.41%. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the business earned $1.02 EPS. On average, research analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.6142 per share. This represents a $2.46 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio (DPR) is currently 82.51%.

Analysts Set New Price Targets

TRP has been the subject of a number of analyst reports. Citigroup started coverage on shares of TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating for the company. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Finally, Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.