Nomura Holdings Inc. Purchases New Shares in TC Energy Co. (NYSE:TRP)

Nomura Holdings Inc. bought a new position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,743 shares of the pipeline company's stock, valued at approximately $267,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BROOKFIELD Corp ON raised its position in TC Energy by 31.6% during the fourth quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company's stock worth $87,950,000 after acquiring an additional 454,011 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in TC Energy by 7.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company's stock worth $10,463,000 after acquiring an additional 16,334 shares during the last quarter. AXA S.A. raised its position in TC Energy by 28.4% during the fourth quarter. AXA S.A. now owns 142,095 shares of the pipeline company's stock worth $6,612,000 after acquiring an additional 31,441 shares during the last quarter. Cinctive Capital Management LP raised its position in TC Energy by 12.3% during the fourth quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company's stock worth $9,042,000 after acquiring an additional 21,243 shares during the last quarter. Finally, Guardian Partners Inc. acquired a new position in shares of TC Energy in the fourth quarter valued at approximately $8,614,000. Institutional investors and hedge funds own 83.13% of the company's stock.

Wall Street Analysts Forecast Growth

TRP has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Wall Street Zen lowered shares of TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Citigroup initiated coverage on shares of TC Energy in a research report on Friday, April 4th. They issued a "neutral" rating for the company. Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Finally, Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Trading Down 0.1%

Shares of TC Energy stock traded down $0.04 during trading hours on Tuesday, hitting $50.42. The company's stock had a trading volume of 666,026 shares, compared to its average volume of 2,503,010. TC Energy Co. has a 1-year low of $37.07 and a 1-year high of $51.34. The business has a fifty day moving average of $48.74 and a 200 day moving average of $47.57. The company has a market capitalization of $52.41 billion, a PE ratio of 15.57, a P/E/G ratio of 4.34 and a beta of 0.78. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period in the previous year, the company earned $1.02 EPS. As a group, equities analysts forecast that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.6142 dividend. This represents a $2.46 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy's payout ratio is currently 77.89%.

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.