Citigroup Inc. Buys 42,361 Shares of TC Energy Corporation (NYSE:TRP)

Citigroup Inc. boosted its holdings in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 11.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 427,457 shares of the pipeline company's stock after acquiring an additional 42,361 shares during the period. Citigroup Inc.'s holdings in TC Energy were worth $20,184,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TRP. Advisory Services Network LLC acquired a new stake in TC Energy during the 4th quarter worth $225,000. Sagespring Wealth Partners LLC acquired a new stake in TC Energy during the 4th quarter worth $221,000. Barclays PLC grew its holdings in TC Energy by 59.5% during the 4th quarter. Barclays PLC now owns 842,846 shares of the pipeline company's stock worth $39,218,000 after acquiring an additional 314,318 shares during the period. Mariner LLC grew its holdings in TC Energy by 12.4% during the 4th quarter. Mariner LLC now owns 39,580 shares of the pipeline company's stock worth $1,842,000 after acquiring an additional 4,375 shares during the period. Finally, Guggenheim Capital LLC grew its holdings in TC Energy by 9.7% during the 4th quarter. Guggenheim Capital LLC now owns 14,970 shares of the pipeline company's stock worth $697,000 after acquiring an additional 1,323 shares during the period. Institutional investors and hedge funds own 83.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TRP. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Finally, Barclays reissued an "overweight" rating on shares of TC Energy in a report on Thursday. One investment 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Down 0.4%

NYSE TRP traded down $0.18 on Friday, reaching $51.04. The company had a trading volume of 1,218,308 shares, compared to its average volume of 1,510,380. The company's fifty day moving average is $48.40 and its 200-day moving average is $48.10. The firm has a market capitalization of $53.08 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 4.89 and a beta of 0.75. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. TC Energy Corporation has a 1-year low of $39.79 and a 1-year high of $51.99.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. The firm had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%. During the same quarter in the prior year, the company earned $0.79 EPS. On average, research analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be issued a dividend of $0.6148 per share. This is a boost from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date is Monday, September 29th. This represents a $2.46 dividend on an annualized basis and a yield of 4.8%. TC Energy's dividend payout ratio is currently 83.62%.

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.