Price T Rowe Associates Inc. MD Purchases 46,036 Shares of TC Energy Corporation $TRP

Key Points

• Price T Rowe Associates Inc. increased its position in TC Energy by 1.5%, acquiring an additional 46,036 shares, bringing its total ownership to over 3.19 million shares valued at $151 million.
• TC Energy announced a quarterly dividend increase to $0.6148 per share, resulting in an annualized dividend of $2.46 and a yield of 4.8%, with a payout ratio of 85.32%.
• Institutional investors now hold 83.13% of TC Energy's stock, with significant increases in holdings reported by Goldman Sachs (up 2,565.1%) and Bank of Nova Scotia (up 80.3%) in the first quarter.

Price T Rowe Associates Inc. MD increased its position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 1.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,198,517 shares of the pipeline company's stock after buying an additional 46,036 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.31% of TC Energy worth $151,002,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TRP. Goldman Sachs Group Inc. lifted its stake in TC Energy by 2,565.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company's stock valued at $769,815,000 after acquiring an additional 15,694,336 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of TC Energy by 80.3% in the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company's stock valued at $802,164,000 after purchasing an additional 7,562,887 shares during the last quarter. Deutsche Bank AG lifted its position in shares of TC Energy by 175.1% in the first quarter. Deutsche Bank AG now owns 5,758,203 shares of the pipeline company's stock worth $271,845,000 after purchasing an additional 3,664,862 shares in the last quarter. Blackstone Inc. boosted its holdings in TC Energy by 83.8% during the fourth quarter. Blackstone Inc. now owns 7,637,469 shares of the pipeline company's stock worth $355,371,000 after purchasing an additional 3,482,874 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in TC Energy by 31.3% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,418,858 shares of the pipeline company's stock worth $444,885,000 after purchasing an additional 2,242,918 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Stock Down 0.7%

TC Energy stock opened at $51.1540 on Monday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The company's 50-day moving average is $48.56 and its 200-day moving average is $48.30. The firm has a market capitalization of $53.20 billion, a PE ratio of 17.46, a P/E/G ratio of 4.91 and a beta of 0.75. TC Energy Corporation has a fifty-two week low of $40.76 and a fifty-two week high of $52.10.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. The business 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 last year, the company posted $0.79 earnings per share. Sell-side analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. US Capital Advisors lowered shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday. Barclays restated an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. CIBC upgraded 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 research report on Friday, May 2nd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

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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