Vanguard Group Inc. Buys 980,221 Shares of TC Energy Corporation $TRP

Key Points

• Vanguard Group boosted its stake in TC Energy by 2.1%, buying 980,221 shares to hold 47,801,695 shares (about 4.59% of the company) valued at roughly $2.63 billion.
• TC Energy raised its quarterly dividend to $0.8775 (annualized $3.51), implying a 5.6% yield, with the ex‑dividend/record date on March 31 and payment on April 30.
• Wall Street has a consensus "Moderate Buy" on TC Energy with a $77 target, and several upgrades recently, including RBC raising its target to $92 and Weiss Ratings boosting its rating to "buy (b+)."

Vanguard Group Inc. boosted its stake in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,801,695 shares of the pipeline company's stock after buying an additional 980,221 shares during the quarter. Vanguard Group Inc. owned approximately 4.59% of TC Energy worth $2,632,200,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRP. Trust Co. of Vermont purchased a new position in TC Energy during the 4th quarter valued at about $28,000. Westside Investment Management Inc. increased its position in TC Energy by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 297 shares during the period. SWAN Capital LLC purchased a new position in TC Energy during the 3rd quarter valued at about $40,000. Smartleaf Asset Management LLC increased its position in TC Energy by 237.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company's stock valued at $43,000 after purchasing an additional 565 shares during the period. Finally, Larson Financial Group LLC increased its position in TC Energy by 65.3% during the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the pipeline company's stock valued at $44,000 after purchasing an additional 318 shares during the period. Institutional investors own 83.13% of the company's stock.

TC Energy Trading Up 1.7%

NYSE TRP opened at $62.99 on Wednesday. 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 firm has a market cap of $65.62 billion, a PE ratio of 27.10 and a beta of 0.69. The company has a 50 day moving average price of $62.98 and a 200 day moving average price of $57.65. TC Energy Corporation has a 52 week low of $46.29 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 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.94 billion. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. During the same quarter in the previous year, the business posted $1.05 EPS. As a group, sell-side analysts forecast that TC Energy Corporation will post 2.78 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.8775 per share. This is a boost from TC Energy's previous quarterly dividend of $0.85. The ex-dividend date is Tuesday, March 31st. This represents a $3.51 annualized dividend and a dividend yield of 5.6%. TC Energy's dividend payout ratio (DPR) is presently 108.62%.

Wall Street Analyst Weigh In

TRP has been the topic of a number of research reports. Weiss Ratings raised shares of TC Energy from a "buy (b)" rating to a "buy (b+)" rating in a research report on Tuesday, April 21st. Citigroup reissued a "neutral" rating on shares of TC Energy in a research report on Thursday, February 19th. Canadian Imperial Bank of Commerce raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Thursday, April 23rd. Barclays reissued an "overweight" rating on shares of TC Energy in a research report on Friday, February 20th. Finally, Royal Bank Of Canada raised their target price on shares of TC Energy from $84.00 to $92.00 and gave the company an "outperform" rating in a research report on Tuesday, February 17th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, TC Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.00.

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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