8,735,871 Shares in TC Energy Co. (NYSE:TRP) Acquired by Norges Bank

Norges Bank bought a new position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 8,735,871 shares of the pipeline company's stock, valued at approximately $341,262,000. Norges Bank owned approximately 0.87% of TC Energy at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TRP. Financial Advocates Investment Management raised its position in shares of TC Energy by 5.4% during the 4th quarter. Financial Advocates Investment Management now owns 6,121 shares of the pipeline company's stock worth $240,000 after purchasing an additional 316 shares during the period. First Heartland Consultants Inc. increased its holdings in shares of TC Energy by 101.2% during the fourth quarter. First Heartland Consultants Inc. now owns 76,493 shares of the pipeline company's stock valued at $3,003,000 after purchasing an additional 38,480 shares during the period. Beacon Pointe Advisors LLC raised its stake in shares of TC Energy by 30.9% during the fourth quarter. Beacon Pointe Advisors LLC now owns 24,288 shares of the pipeline company's stock valued at $949,000 after purchasing an additional 5,733 shares in the last quarter. Thornburg Investment Management Inc. lifted its holdings in TC Energy by 0.3% in the fourth quarter. Thornburg Investment Management Inc. now owns 2,529,347 shares of the pipeline company's stock worth $98,844,000 after purchasing an additional 8,137 shares during the period. Finally, Foundations Investment Advisors LLC grew its position in TC Energy by 4.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 8,391 shares of the pipeline company's stock valued at $334,000 after buying an additional 326 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of TC Energy from $29.00 to $32.00 and gave the stock a "sell" rating in a research note on Friday, January 26th. Barclays boosted their price objective on TC Energy from $53.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Monday, January 29th. Jefferies Financial Group assumed coverage on TC Energy in a report on Tuesday, February 27th. They set a "hold" rating on the stock. Finally, TheStreet raised shares of TC Energy from a "c+" rating to a "b-" rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $48.83.

TC Energy Stock Up 0.3 %

NYSE TRP traded up $0.10 during trading on Tuesday, reaching $39.16. 1,380,937 shares of the company's stock were exchanged, compared to its average volume of 2,980,417. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.64. TC Energy Co. has a fifty-two week low of $32.51 and a fifty-two week high of $41.85. The company's fifty day simple moving average is $38.19 and its 200-day simple moving average is $38.45. The firm has a market capitalization of $39.16 billion, a PE ratio of 20.13, a P/E/G ratio of 3.26 and a beta of 0.76.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.20. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. Sell-side analysts predict that TC Energy Co. will post 2.98 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.84 annualized dividend and a dividend yield of 7.25%. TC Energy's dividend payout ratio (DPR) is 145.88%.

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.