TC Energy Corporation (NYSE:TRP) Stock Position Raised by Bessemer Group Inc.

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank bought a new position in TC Energy during the 4th quarter worth approximately $428,759,000. Mufg Securities Canada LTD. lifted its holdings in TC Energy by 571.7% during the 4th quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company's stock worth $288,043,000 after buying an additional 5,264,079 shares during the last quarter. Blackstone Inc. lifted its holdings in TC Energy by 83.8% during the 4th quarter. Blackstone Inc. now owns 7,637,469 shares of the pipeline company's stock worth $355,371,000 after buying an additional 3,482,874 shares during the last quarter. FIL Ltd lifted its holdings in 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 during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in TC Energy during the 4th quarter worth approximately $102,405,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

Wall Street Analysts Forecast Growth

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

TC Energy Stock Performance

TRP traded up $1.05 during trading hours on Friday, hitting $49.01. The company's stock had a trading volume of 7,778,916 shares, compared to its average volume of 2,493,356. TC Energy Corporation has a fifty-two week low of $37.07 and a fifty-two week high of $51.99. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $50.97 billion, a PE ratio of 16.18, a PEG ratio of 4.58 and a beta of 0.78. The company has a 50-day simple moving average of $49.54 and a 200 day simple moving average of $47.66.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Thursday, May 1st. The pipeline company reported $0.66 EPS 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 business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the business earned $1.02 earnings per share. As a group, sell-side analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The company also recently declared 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 5.01%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio (DPR) is presently 77.89%.

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.