BROOKFIELD Corp ON Has $87.95 Million Stake in TC Energy Co. (NYSE:TRP)

BROOKFIELD Corp ON boosted its position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 31.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,890,168 shares of the pipeline company's stock after acquiring an additional 454,011 shares during the period. TC Energy makes up approximately 0.5% of BROOKFIELD Corp ON's holdings, making the stock its 25th largest holding. BROOKFIELD Corp ON owned approximately 0.18% of TC Energy worth $87,950,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. NTV Asset Management LLC raised its position in shares of TC Energy by 4.0% during the fourth quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company's stock worth $288,000 after purchasing an additional 239 shares during the period. Lee Financial Co increased its stake in TC Energy by 3.1% during the 4th quarter. Lee Financial Co now owns 8,185 shares of the pipeline company's stock worth $381,000 after purchasing an additional 246 shares in the last quarter. IFP Advisors Inc raised its holdings in TC Energy by 7.0% during the 4th quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company's stock worth $177,000 after buying an additional 249 shares during the period. Benjamin Edwards Inc. lifted its stake in TC Energy by 1.7% in the fourth quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company's stock valued at $745,000 after buying an additional 273 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of TC Energy by 7.2% in the fourth quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company's stock valued at $191,000 after buying an additional 274 shares during the period. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Stock Performance

NYSE TRP traded up $0.32 during trading on Friday, reaching $49.35. 1,247,520 shares of the company's stock were exchanged, compared to its average volume of 2,523,317. 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 business has a 50 day moving average price of $48.12 and a 200-day moving average price of $47.40. The stock has a market capitalization of $51.31 billion, a P/E ratio of 15.23, a PEG ratio of 4.34 and a beta of 0.78. TC Energy Co. has a fifty-two week low of $37.07 and a fifty-two week high of $51.34.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period in the previous year, the firm posted $1.02 earnings per share. Sell-side analysts forecast that TC Energy Co. will post 2.63 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 Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.6142 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a yield of 4.98%. TC Energy's dividend payout ratio (DPR) is currently 77.89%.

Analysts Set New Price Targets

Several equities research analysts recently commented on TRP shares. Veritas raised shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Citigroup initiated coverage on TC Energy in a research report on Friday, April 4th. They set a "neutral" rating for the company. TD Securities assumed coverage on TC Energy in a research report on Wednesday, January 15th. They issued a "buy" rating on the stock. US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. Finally, Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, TC Energy currently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

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.