TC Energy Corporation $TRP Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors reduced its TC Energy stake by 11.2% in the first quarter, selling 247,622 shares while retaining 1.95 million shares valued at approximately $122.3 million.
• TC Energy reported quarterly EPS of $0.72, beating estimates by $0.02, though revenue of $2.04 billion fell short of the $2.20 billion consensus forecast.
• The company declared a quarterly dividend of $0.8775 per share, equivalent to a 5.1% annualized yield; analysts maintain a “Moderate Buy” consensus with an average price target of $78.50.

Dimensional Fund Advisors LP trimmed its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 11.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,954,036 shares of the pipeline company's stock after selling 247,622 shares during the quarter. Dimensional Fund Advisors LP owned about 0.19% of TC Energy worth $122,338,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in TC Energy during the 4th quarter worth about $25,000. Sterling Capital Management LLC purchased a new stake in shares of TC Energy in the first quarter worth about $26,000. Trust Co. of Vermont acquired a new stake in TC Energy during the fourth quarter worth about $28,000. McIlrath & Eck LLC acquired a new stake in TC Energy during the fourth quarter worth about $32,000. Finally, SWAN Capital LLC purchased a new position in TC Energy during the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Stock Performance

NYSE:TRP opened at $68.29 on Tuesday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65. The stock has a market capitalization of $71.15 billion, a PE ratio of 29.64 and a beta of 0.66. TC Energy Corporation has a fifty-two week low of $46.61 and a fifty-two week high of $71.47. The company has a fifty day moving average of $68.59 and a two-hundred day moving average of $64.09.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the business earned $0.95 earnings per share. As a group, research analysts forecast that TC Energy Corporation will post 2.72 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy's dividend payout ratio is currently 107.39%.

Analysts Set New Price Targets

Several equities research analysts have commented on TRP shares. National Bank Financial upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 4th. Weiss Ratings lowered shares of TC Energy from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 4th. Morgan Stanley cut shares of TC Energy from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, June 10th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of TC Energy in a report on Tuesday, May 26th. Finally, Royal Bank Of Canada raised their price target on shares of TC Energy from $92.00 to $95.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $78.50.

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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