Bell Bank Increases Holdings in TC Energy Corporation (NYSE:TRP)

Bell Bank raised its position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 5.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 184,909 shares of the pipeline company's stock after purchasing an additional 9,167 shares during the quarter. Bell Bank's holdings in TC Energy were worth $8,730,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of TC Energy by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company's stock worth $2,035,952,000 after buying an additional 734,678 shares in the last quarter. FIL Ltd boosted its holdings in shares of TC Energy by 10.3% during the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock worth $1,325,558,000 after buying an additional 2,644,627 shares in the last quarter. TD Asset Management Inc. boosted its holdings in shares of TC Energy by 2.1% during the 4th quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company's stock worth $765,627,000 after buying an additional 344,485 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of TC Energy by 9.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company's stock worth $686,763,000 after buying an additional 1,280,000 shares in the last quarter. Finally, Norges Bank bought a new position in shares of TC Energy during the 4th quarter worth approximately $428,759,000. Institutional investors and hedge funds own 83.13% of the company's stock.

Wall Street Analysts Forecast Growth

TRP has been the topic of a number of research analyst reports. Citigroup initiated coverage on TC Energy in a report on Friday, April 4th. They set a "neutral" rating on the stock. Wall Street Zen cut TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Royal Bank Of Canada increased their target price on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Finally, Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, TC Energy presently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Down 1.2%

NYSE:TRP traded down $0.56 during trading hours on Wednesday, hitting $47.75. 4,276,070 shares of the company traded hands, compared to its average volume of 2,474,792. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 1.61. The firm's 50-day simple moving average is $49.57 and its 200-day simple moving average is $47.69. TC Energy Corporation has a one year low of $37.07 and a one year high of $51.99. The company has a market cap of $49.64 billion, a PE ratio of 15.76, a PEG ratio of 4.65 and a beta of 0.78.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a net margin of 29.17% and a return on equity of 11.41%. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the business posted $1.02 earnings per share. Equities analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.6142 per share. This represents a $2.46 annualized dividend and a dividend yield of 5.15%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio is presently 77.89%.

TC Energy Company 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.