Zurich Insurance Group Ltd FI Has $25.88 Million Holdings in TC Energy Co. (NYSE:TRP)

Zurich Insurance Group Ltd FI lessened its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 63.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 555,784 shares of the pipeline company's stock after selling 981,713 shares during the period. Zurich Insurance Group Ltd FI owned approximately 0.05% of TC Energy worth $25,876,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. BROOKFIELD Corp ON raised its holdings in 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 acquiring an additional 454,011 shares in the last quarter. Addenda Capital Inc. grew its stake in shares of TC Energy by 4.4% in the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company's stock valued at $48,135,000 after purchasing an additional 43,639 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of TC Energy by 7.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company's stock valued at $10,463,000 after purchasing an additional 16,334 shares during the period. AXA S.A. grew its stake in shares of TC Energy by 28.4% in the 4th quarter. AXA S.A. now owns 142,095 shares of the pipeline company's stock valued at $6,612,000 after purchasing an additional 31,441 shares during the period. Finally, Cinctive Capital Management LP grew its stake in shares of TC Energy by 12.3% in the 4th quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company's stock valued at $9,042,000 after purchasing an additional 21,243 shares during the period. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Trading Up 1.9%

TRP traded up $0.95 during mid-day trading on Friday, reaching $50.46. The stock had a trading volume of 1,290,935 shares, compared to its average volume of 2,504,805. The stock has a market capitalization of $52.46 billion, a P/E ratio of 15.57, a P/E/G ratio of 4.34 and a beta of 0.78. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The firm's fifty day simple moving average is $48.70 and its two-hundred day simple moving average is $47.58. TC Energy Co. has a 52 week low of $37.07 and a 52 week high of $51.34.

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

TC Energy Cuts Dividend

The business also recently declared 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. The ex-dividend date is Monday, June 30th. This represents a $2.46 annualized dividend and a dividend yield of 4.87%. TC Energy's dividend payout ratio is currently 77.89%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. Citigroup assumed coverage on TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating on the stock. US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada increased their price target on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $62.00.

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.