Goldman Sachs Group Inc. Boosts Stake in TC Energy Corporation (NYSE:TRP)

Goldman Sachs Group Inc. raised its holdings in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 2,565.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,306,187 shares of the pipeline company's stock after acquiring an additional 15,694,336 shares during the quarter. Goldman Sachs Group Inc. owned 1.57% of TC Energy worth $769,815,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. TD Asset Management Inc boosted its stake in shares of TC Energy by 6.2% during the 1st quarter. TD Asset Management Inc now owns 17,455,740 shares of the pipeline company's stock worth $824,243,000 after acquiring an additional 1,018,590 shares in the last quarter. Bank of Nova Scotia raised its stake in shares of TC Energy by 80.3% during the 1st quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company's stock worth $802,164,000 after buying an additional 7,562,887 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of TC Energy by 9.5% in 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. Mackenzie Financial Corp grew its stake in TC Energy by 7.7% in the 1st quarter. Mackenzie Financial Corp now owns 13,239,669 shares of the pipeline company's stock valued at $625,230,000 after acquiring an additional 945,708 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. increased its holdings in TC Energy by 4.3% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 8,279,997 shares of the pipeline company's stock valued at $385,268,000 after acquiring an additional 337,647 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Cibc World Mkts upgraded shares of 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 issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Trading Up 1.8%

NYSE:TRP opened at $49.79 on Thursday. The business's 50-day moving average is $48.48 and its two-hundred day moving average is $47.91. The firm has a market capitalization of $51.78 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 4.71 and a beta of 0.75. TC Energy Corporation has a 12 month low of $39.12 and a 12 month high of $51.99. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%. During the same period last year, the business posted $0.79 EPS. Research analysts predict 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. Stockholders of record on Monday, September 29th will be given a dividend of $0.6148 per share. The ex-dividend date of this dividend is Monday, September 29th. This is an increase from TC Energy's previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.9%. TC Energy's dividend payout ratio is presently 85.32%.

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.

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