TC Energy Corporation $TRP Shares Acquired by Capital Research Global Investors

Key Points

• Capital Research Global Investors increased its stake in TC Energy by 2.5% in Q3, buying 1,041,864 shares to own 41,977,582 shares (about 4.03%) valued at roughly $2.28 billion, and institutional investors now hold about 83.13% of the stock.
• TC Energy raised its quarterly dividend to $0.8775 (from $0.85), an annualized $3.51 that yields ~5.5%; the ex-dividend date is March 31 and the payout ratio is 106.9%.
• Analysts have a consensus rating of "Hold" with an average price target of $72.50; the company beat Q4 EPS estimates with $0.70 versus $0.65 but missed revenue expectations ($2.20B vs. $2.94B expected).

Capital Research Global Investors grew its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,977,582 shares of the pipeline company's stock after purchasing an additional 1,041,864 shares during the period. Capital Research Global Investors owned approximately 4.03% of TC Energy worth $2,282,469,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Westside Investment Management Inc. grew its stake in TC Energy by 100.0% in the third quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company's stock worth $32,000 after purchasing an additional 297 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in TC Energy by 237.4% during the third quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company's stock valued at $43,000 after purchasing an additional 565 shares during the last quarter. Sagard Holdings Management Inc. bought a new position in TC Energy in the second quarter worth about $46,000. City Holding Co. acquired a new position in TC Energy during the 3rd quarter valued at approximately $72,000. Finally, First Horizon Corp bought a new position in TC Energy in the 3rd quarter worth about $77,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

Wall Street Analyst Weigh In

TRP has been the topic of a number of analyst reports. Canadian Imperial Bank of Commerce cut TC Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Scotiabank reissued an "outperform" rating on shares of TC Energy in a research report on Tuesday, February 17th. Wells Fargo & Company reiterated an "overweight" rating on shares of TC Energy in a research note on Monday, February 16th. Royal Bank Of Canada increased their target price on shares of TC Energy from $84.00 to $92.00 and gave the company an "outperform" rating in a research note on Tuesday, February 17th. Finally, Raymond James Financial raised shares of TC Energy to a "hold" rating in a report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $72.50.

TC Energy Trading Down 0.6%

TRP stock opened at $63.31 on Tuesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63. The company has a market capitalization of $65.92 billion, a PE ratio of 27.24 and a beta of 0.72. The company's 50-day simple moving average is $58.91 and its 200 day simple moving average is $55.08. TC Energy Corporation has a 52 week low of $43.59 and a 52 week high of $65.57.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the business posted $1.05 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a $0.8775 dividend. This is a boost from TC Energy's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.51 annualized dividend and a dividend yield of 5.5%. TC Energy's dividend payout ratio is 106.90%.

TC Energy Profile

TC Energy NYSE: TRP is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company's principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.

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