Bessemer Group Inc. Has $4.06 Million Stake in TC Energy Corporation (NYSE:TRP)

Bessemer Group Inc. grew its holdings in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 141.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 85,802 shares of the pipeline company's stock after purchasing an additional 50,220 shares during the quarter. Bessemer Group Inc.'s holdings in TC Energy were worth $4,057,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of TC Energy by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company's stock valued at $2,035,952,000 after buying an additional 734,678 shares during the last quarter. FIL Ltd increased its position in TC Energy by 10.3% in the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock valued at $1,325,558,000 after acquiring an additional 2,644,627 shares in the last quarter. TD Asset Management Inc. raised its stake in shares of TC Energy by 2.1% in the fourth quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company's stock worth $765,627,000 after acquiring an additional 344,485 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of TC Energy by 9.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company's stock worth $686,763,000 after acquiring an additional 1,280,000 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of TC Energy during the fourth quarter worth approximately $428,759,000. Institutional investors own 83.13% of the company's stock.

TC Energy Trading Down 1.8%

TC Energy stock traded down $0.90 during mid-day trading on Tuesday, hitting $47.89. 2,886,917 shares of the company's stock were exchanged, compared to its average volume of 2,496,802. The company's 50 day simple moving average is $49.52 and its 200-day simple moving average is $47.69. 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 has a market capitalization of $49.80 billion, a P/E ratio of 15.81, a PEG ratio of 4.66 and a beta of 0.76. TC Energy Corporation has a fifty-two week low of $37.07 and a fifty-two week high of $51.99.

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

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.6142 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy's payout ratio is currently 81.52%.

Analysts Set New Price Targets

TRP has been the subject of a number of research reports. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Wall Street Zen lowered TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Citigroup assumed coverage on TC Energy in a research report on Friday, April 4th. They set a "neutral" rating for the company. Finally, CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, TC Energy has an average rating of "Moderate Buy" and an average target price of $62.00.

About TC Energy

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.