Goldman Sachs Group Inc. Has $769.82 Million Stake in TC Energy Corporation $TRP

Key Points

• Goldman Sachs increased its stake in TC Energy Corporation by 2,565.1%, owning 16,306,187 shares worth approximately $769.8 million after acquiring over 15.6 million additional shares in the first quarter.
• TC Energy announced a quarterly dividend of $0.6148, which represents an annualized payout of $2.46 with a yield of 4.7%, up from the previous dividend of $0.61.
• Institutional investors now control over 83% of TC Energy's stock, indicating significant confidence in the company's long-term prospects.

Goldman Sachs Group Inc. boosted its position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 2,565.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,306,187 shares of the pipeline company's stock after purchasing an additional 15,694,336 shares during the period. Goldman Sachs Group Inc. owned 1.57% of TC Energy worth $769,815,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TRP. Lowe Wealth Advisors LLC acquired a new stake in shares of TC Energy during the 1st quarter valued at $30,000. TruNorth Capital Management LLC acquired a new position in TC Energy during the 1st quarter worth $45,000. Truvestments Capital LLC acquired a new position in TC Energy during the 1st quarter worth $45,000. Golden State Wealth Management LLC lifted its position in TC Energy by 222.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock worth $51,000 after acquiring an additional 742 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in TC Energy by 75.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company's stock worth $55,000 after acquiring an additional 501 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Price Performance

NYSE TRP traded up $0.20 on Friday, reaching $52.31. The company's stock had a trading volume of 2,101,287 shares, compared to its average volume of 1,560,637. The firm has a market cap of $54.39 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 4.99 and a beta of 0.77. The business has a 50-day moving average price of $49.68 and a 200 day moving average price of $48.88. TC Energy Corporation has a 52 week low of $40.76 and a 52 week high of $52.49. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.03. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same quarter in the previous year, the firm posted $0.79 earnings per share. Sell-side analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid a dividend of $0.6148 per share. This is a positive change from TC Energy's previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Monday, September 29th. TC Energy's payout ratio is currently 83.62%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TRP shares. Barclays reissued an "overweight" rating on shares of TC Energy in a research report on Thursday, August 14th. US Capital Advisors lowered shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Finally, Wall Street Zen raised shares of TC Energy from a "sell" rating to a "hold" rating in a research report on Saturday. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $62.00.

TC Energy 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.