NYSE:TRP - Free Report ) TSE: TRP by 7.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,690,521 shares of the pipeline company's stock after buying an additional 124,100 shares during the quarter. TC Energy accounts for 2.1% of Kayne Anderson Capital Advisors LP's holdings, making the stock its 17th largest holding. Kayne Anderson Capital Advisors LP owned about 0.17% of TC Energy worth $66,082,000 at the end of the most recent quarter.
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A number of other hedge funds and other institutional investors have also made changes to their positions in TRP. Healthcare of Ontario Pension Plan Trust Fund raised its stake in TC Energy by 70.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company's stock worth $569,058,000 after buying an additional 6,840,000 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of TC Energy by 18.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company's stock worth $849,037,000 after purchasing an additional 3,740,495 shares during the last quarter. Blackstone Inc. boosted its position in TC Energy by 540.4% during the third quarter. Blackstone Inc. now owns 3,117,031 shares of the pipeline company's stock valued at $107,257,000 after purchasing an additional 2,630,324 shares in the last quarter. Morgan Stanley grew its stake in TC Energy by 42.5% in the third quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company's stock valued at $234,719,000 after purchasing an additional 2,034,846 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in TC Energy by 24.8% in the third quarter. CIBC Asset Management Inc now owns 9,567,604 shares of the pipeline company's stock worth $330,044,000 after purchasing an additional 1,901,838 shares in the last quarter. Institutional investors own 83.13% of the company's stock.
TC Energy Stock Performance TRP traded up $0.33 during trading on Thursday, reaching $38.20. 2,331,222 shares of the company's stock were exchanged, compared to its average volume of 3,079,437. The company's fifty day simple moving average is $38.39 and its 200-day simple moving average is $38.18. The stock has a market capitalization of $38.20 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 3.24 and a beta of 0.76. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88. TC Energy Co. has a 1 year low of $32.51 and a 1 year high of $42.31.
TC Energy (NYSE:TRP - Get Free Report ) TSE: TRP last posted its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.20. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. TC Energy had a net margin of 17.23% and a return on equity of 20.63%. As a group, research analysts predict that TC Energy Co. will post 2.9 earnings per share for the current fiscal year.
TC Energy Cuts Dividend The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 7.43%. The ex-dividend date is Friday, June 28th. TC Energy's dividend payout ratio is currently 145.88%.
Analyst Upgrades and Downgrades A number of research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of TC Energy from $53.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Monday, January 29th. Stifel Nicolaus started coverage on TC Energy in a research report on Thursday, January 18th. They issued a "buy" rating for the company. Jefferies Financial Group initiated coverage on TC Energy in a research report on Tuesday, February 27th. They set a "hold" rating on the stock. TheStreet raised TC Energy from a "c+" rating to a "b-" rating in a report on Wednesday, March 20th. Finally, The Goldman Sachs Group upped their price objective on shares of TC Energy from $29.00 to $32.00 and gave the company a "sell" rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $48.83.
Check Out Our Latest Stock Report on TC Energy
TC Energy 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.
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