TC Energy Corporation $TRP Shares Bought by Capital International Inc. CA

Key Points

• Capital International Inc. CA raised its stake in TC Energy by 13.2% in Q3 to 502,181 shares (worth $27.31M), and institutional ownership remains high at 83.13% as other large investors (Vanguard, CPPIB, TD Asset, JPMorgan, Norges) also increased positions.
• TC Energy boosted its quarterly dividend to $0.8775 (annualized $3.51), implying a 5.5% yield, but the dividend payout ratio is elevated at 106.9%.
• Analysts are mixed with an average rating of Hold and a $72.50 price target; the company recently beat EPS estimates ($0.70 vs. $0.65) while missing revenue expectations ($2.20B vs. $2.94B).

Capital International Inc. CA lifted its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 13.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 502,181 shares of the pipeline company's stock after buying an additional 58,460 shares during the period. Capital International Inc. CA's holdings in TC Energy were worth $27,313,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in TC Energy by 2.0% during the third quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company's stock worth $2,545,777,000 after acquiring an additional 914,168 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of TC Energy by 5.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 20,986,748 shares of the pipeline company's stock valued at $1,025,220,000 after purchasing an additional 1,178,190 shares in the last quarter. TD Asset Management Inc grew its stake in shares of TC Energy by 2.9% in the 3rd 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 during the last quarter. JPMorgan Chase & Co. grew its stake 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 worth $611,410,000 after purchasing an additional 512,759 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of TC Energy in the 2nd quarter worth approximately $493,434,000. Institutional investors and hedge funds own 83.13% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TRP. Canadian Imperial Bank of Commerce cut shares of TC Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 17th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of TC Energy in a report on Monday, December 29th. Raymond James Financial raised TC Energy to a "hold" rating in a research note on Tuesday, February 17th. Royal Bank Of Canada lifted their target price on TC Energy from $84.00 to $92.00 and gave the stock an "outperform" rating in a report on Tuesday, February 17th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of TC Energy in a research report on Tuesday, February 17th. Seven 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. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $72.50.

TC Energy Trading Up 0.5%

NYSE TRP opened at $63.69 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. TC Energy Corporation has a 1-year low of $43.59 and a 1-year high of $65.57. The firm's fifty day simple moving average is $59.06 and its 200-day simple moving average is $55.17. The company has a market capitalization of $66.31 billion, a PE ratio of 27.40 and a beta of 0.72.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. As a group, sell-side analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from TC Energy's previous quarterly dividend of $0.85. TC Energy's dividend payout ratio (DPR) is presently 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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