Sumitomo Mitsui Trust Holdings Inc. reduced its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,425,965 shares of the pipeline company's stock after selling 22,261 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.23% of TC Energy worth $95,074,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of TC Energy by 29,994.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 309,376 shares of the pipeline company's stock valued at $12,094,000 after purchasing an additional 308,348 shares in the last quarter. Addenda Capital Inc. lifted its position in TC Energy by 2.5% during the 4th quarter. Addenda Capital Inc. now owns 1,089,146 shares of the pipeline company's stock worth $42,575,000 after acquiring an additional 26,711 shares in the last quarter. Morgan Stanley lifted its position in TC Energy by 42.5% during the 3rd quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company's stock worth $234,719,000 after acquiring an additional 2,034,846 shares in the last quarter. Mondrian Investment Partners LTD lifted its position in TC Energy by 9.3% during the 3rd quarter. Mondrian Investment Partners LTD now owns 7,231,694 shares of the pipeline company's stock worth $248,843,000 after acquiring an additional 618,040 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in TC Energy by 6.5% during the 3rd quarter. Van ECK Associates Corp now owns 296,979 shares of the pipeline company's stock worth $10,218,000 after acquiring an additional 18,213 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.
TC Energy Stock Down 0.3 %
Shares of TRP traded down $0.09 during trading on Wednesday, reaching $35.10. The company's stock had a trading volume of 3,495,754 shares, compared to its average volume of 2,945,585. TC Energy Co. has a twelve month low of $32.51 and a twelve month high of $42.49. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65. The company has a market cap of $35.10 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 3.01 and a beta of 0.75. The company has a fifty day moving average of $39.14 and a two-hundred day moving average of $37.96.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. On average, sell-side analysts predict that TC Energy Co. will post 2.99 EPS for the current fiscal year.
TC Energy Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a $0.714 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 8.14%. This is an increase from TC Energy's previous quarterly dividend of $0.67. The ex-dividend date is Wednesday, March 27th. TC Energy's payout ratio is 139.41%.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the company. Stifel Nicolaus assumed coverage on TC Energy in a research report on Thursday, January 18th. They set a "buy" rating on the stock. The Goldman Sachs Group boosted their price target on TC Energy from $29.00 to $32.00 and gave the stock a "sell" rating in a research report on Friday, January 26th. Jefferies Financial Group assumed coverage on TC Energy in a research report on Tuesday, February 27th. They set a "hold" rating on the stock. Barclays boosted their price target on TC Energy from $53.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Monday, January 29th. Finally, TheStreet raised TC Energy from a "c+" rating to a "b-" rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $48.83.
Check Out Our Latest Stock Report on TRP
TC Energy Company Profile
(
Free Report)
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.
Featured Stories
Before you consider TC Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TC Energy wasn't on the list.
While TC Energy currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
