TC Energy Corporation $TRP Shares Acquired by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services Co. increased its stake by 80.5% in TC Energy in Q4, buying an additional 234,594 shares to hold 526,181 shares worth ~$28.95 million (about 0.05% of the company).
• Several large institutions also materially boosted positions—American Century (+514.5%), Nicola Wealth (+793.7%), and Capital Research (now ~41.98M shares)—leaving institutional ownership at 83.13%.
• TC Energy raised its quarterly dividend to $0.8775 (annualized $3.51) for a 5.8% yield

Massachusetts Financial Services Co. MA grew its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 80.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 526,181 shares of the pipeline company's stock after buying an additional 234,594 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.05% of TC Energy worth $28,945,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TRP. American Century Companies Inc. lifted its holdings in shares of TC Energy by 514.5% in the 3rd quarter. American Century Companies Inc. now owns 6,491,799 shares of the pipeline company's stock valued at $352,976,000 after buying an additional 5,435,310 shares during the period. Nicola Wealth Management LTD. lifted its holdings in shares of TC Energy by 793.7% in the 3rd quarter. Nicola Wealth Management LTD. now owns 2,302,996 shares of the pipeline company's stock valued at $125,229,000 after buying an additional 2,045,300 shares during the period. BROOKFIELD Corp ON acquired a new position in shares of TC Energy in the 2nd quarter valued at about $78,443,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of TC Energy by 32.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,496,410 shares of the pipeline company's stock valued at $244,650,000 after buying an additional 1,109,897 shares during the period. Finally, Capital Research Global Investors lifted its holdings in shares of TC Energy by 2.5% in the 3rd quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company's stock valued at $2,282,469,000 after buying an additional 1,041,864 shares during the period. Institutional investors and hedge funds own 83.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TRP shares. Wall Street Zen raised TC Energy from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Wells Fargo & Company restated an "overweight" rating on shares of TC Energy in a research note on Monday, February 16th. Raymond James Financial upgraded TC Energy to a "hold" rating in a research note on Tuesday, February 17th. BMO Capital Markets restated an "outperform" rating on shares of TC Energy in a research note on Tuesday, February 17th. Finally, Citigroup restated a "neutral" rating on shares of TC Energy in a research note on Thursday, February 19th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $72.50.

TC Energy Price Performance

NYSE:TRP opened at $60.95 on Thursday. TC Energy Corporation has a 12 month low of $46.29 and a 12 month high of $65.57. The stock has a 50 day moving average of $63.00 and a two-hundred day moving average of $57.18. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. The firm has a market cap of $63.49 billion, a P/E ratio of 26.23 and a beta of 0.69.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the business earned $1.05 EPS. On average, analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.8775 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.51 annualized dividend and a dividend yield of 5.8%. This is an increase from TC Energy's previous quarterly dividend of $0.85. TC Energy's payout ratio is presently 108.62%.

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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