TC Energy Corporation $TRP Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. raised its stake in TC Energy by 11.2% to 777,422 shares (about $42.26M), and overall institutional ownership of the company stands at 83.13% after additional buys from Vanguard, CPP, TD Asset Management, JPMorgan and Norges Bank.
• TC Energy increased its quarterly dividend to $0.8775 (annualized $3.51), implying a 5.6% yield, though the dividend payout ratio is a high 110.78%.
• The company beat EPS expectations at $0.70 versus $0.65 consensus but missed on revenue ($2.20B vs. $2.94B expected); the stock has a market cap of $65.7B, trades near its 52‑week high, and carries an average analyst rating of "Hold" with a $72.50 target.

Russell Investments Group Ltd. lifted its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 11.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 777,422 shares of the pipeline company's stock after buying an additional 78,000 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of TC Energy worth $42,262,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRP. Vanguard Group Inc. boosted its stake in TC Energy by 2.0% in the third quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company's stock valued at $2,545,777,000 after acquiring an additional 914,168 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of TC Energy by 5.9% during the second quarter. Canada Pension Plan Investment Board now owns 20,986,748 shares of the pipeline company's stock worth $1,025,220,000 after purchasing an additional 1,178,190 shares in the last quarter. TD Asset Management Inc increased its position in shares of TC Energy by 2.9% during the third quarter. TD Asset Management Inc now owns 19,624,247 shares of the pipeline company's stock worth $1,067,246,000 after purchasing an additional 550,066 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of TC Energy by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,237,084 shares of the pipeline company's stock valued at $611,410,000 after purchasing an additional 512,759 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of TC Energy in the 2nd quarter valued at about $493,434,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Performance

Shares of TRP stock opened at $63.14 on Thursday. The stock's 50-day moving average price is $59.22 and its 200 day moving average price is $55.23. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $65.74 billion, a PE ratio of 27.17 and a beta of 0.72. 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 data on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. The company had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.94 billion. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.During the same period last year, the firm earned $1.05 EPS. As a group, equities research analysts forecast that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.8775 per share. This is a boost from TC Energy's previous quarterly dividend of $0.85. This represents a $3.51 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, March 31st. TC Energy's dividend payout ratio is 110.78%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TRP. Scotiabank restated an "outperform" rating on shares of TC Energy in a research note on Tuesday, February 17th. 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. Wall Street Zen raised TC Energy from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Royal Bank Of Canada raised their target price on shares of TC Energy from $84.00 to $92.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 17th. Finally, Barclays reiterated an "overweight" rating on shares of TC Energy in a research report on Friday, February 20th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $72.50.

TC Energy Company 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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