Northern Trust Corp Has $36.02 Million Holdings in TC Energy Co. (NYSE:TRP)

Northern Trust Corp grew its position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 73.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 774,074 shares of the pipeline company's stock after buying an additional 326,866 shares during the quarter. Northern Trust Corp owned approximately 0.07% of TC Energy worth $36,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in TRP. Vanguard Group Inc. raised its holdings in shares of TC Energy by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company's stock valued at $2,035,952,000 after purchasing an additional 734,678 shares in the last quarter. FIL Ltd raised its stake in shares of TC Energy by 10.3% in the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock valued at $1,325,558,000 after acquiring an additional 2,644,627 shares in the last quarter. TD Asset Management Inc. boosted its position in TC Energy by 2.1% during the fourth quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company's stock worth $765,627,000 after purchasing an additional 344,485 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of TC Energy by 9.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company's stock worth $686,763,000 after buying an additional 1,280,000 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of TC Energy during the 4th quarter worth $428,759,000. Institutional investors own 83.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TRP shares. Royal Bank of Canada upped their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Citigroup initiated coverage on TC Energy in a report on Friday, April 4th. They set a "neutral" rating for the company. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. TD Securities assumed coverage on shares of TC Energy in a research report on Wednesday, January 15th. They issued a "buy" rating on the stock. Finally, StockNews.com lowered shares of TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, TC Energy currently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Stock Performance

TC Energy stock opened at $49.35 on Friday. TC Energy Co. has a 52-week low of $37.07 and a 52-week high of $51.34. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The stock has a fifty day moving average price of $48.12 and a two-hundred day moving average price of $47.39. The firm has a market capitalization of $51.31 billion, a P/E ratio of 15.23, a P/E/G ratio of 4.34 and a beta of 0.78.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.04). The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period in the prior year, the business earned $1.02 earnings per share. As a group, analysts anticipate that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.6142 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 annualized dividend and a yield of 4.98%. TC Energy's payout ratio is 77.89%.

About TC Energy

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.

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