Dimensional Fund Advisors LP Sells 488,285 Shares of TC Energy Corporation $TRP

Key Points

• Dimensional Fund Advisors LP reduced its stake in TC Energy by 14.6%, now holding approximately $134.62 million worth of shares.
• Several institutional investors, including BROOKFIELD Corp and Farther Finance Advisors LLC, have increased their positions in TC Energy, indicating strong interest in the company's stock.
• TC Energy announced a quarterly dividend increase to $0.6148 per share, reflecting a 4.8% yield, with a payout ratio of 85.32%.

Dimensional Fund Advisors LP trimmed its holdings in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 14.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,850,744 shares of the pipeline company's stock after selling 488,285 shares during the period. Dimensional Fund Advisors LP owned 0.27% of TC Energy worth $134,616,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BROOKFIELD Corp ON lifted its stake in shares of TC Energy by 31.6% in the 4th quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company's stock valued at $87,950,000 after purchasing an additional 454,011 shares during the period. Bank of New York Mellon Corp raised its stake in TC Energy by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 915,241 shares of the pipeline company's stock worth $43,209,000 after buying an additional 10,227 shares during the period. Farther Finance Advisors LLC raised its stake in shares of TC Energy by 77.7% in the 1st quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company's stock valued at $110,000 after purchasing an additional 1,005 shares during the period. Wealthstar Advisors LLC acquired a new stake in shares of TC Energy in the 1st quarter valued at about $432,000. Finally, Golden State Wealth Management LLC grew its holdings in shares of TC Energy by 222.2% in the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock valued at $51,000 after acquiring an additional 742 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on TRP shares. Barclays reiterated an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Finally, US Capital Advisors cut shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, TC Energy has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Stock Down 0.7%

NYSE:TRP traded down $0.3660 on Friday, hitting $51.1540. The stock had a trading volume of 1,307,596 shares, compared to its average volume of 1,470,006. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The stock has a market cap of $53.20 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 4.91 and a beta of 0.75. TC Energy Corporation has a 1 year low of $40.76 and a 1 year high of $52.10. The firm's fifty day simple moving average is $48.56 and its two-hundred day simple moving average is $48.29.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the business posted $0.79 EPS. Analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a dividend of $0.6148 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.8%. This is an increase from TC Energy's previous quarterly dividend of $0.61. TC Energy's payout ratio is presently 85.32%.

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.