TC Energy Co. (NYSE:TRP) Shares Purchased by Axa S.A.

Axa S.A. grew its stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 28.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 142,095 shares of the pipeline company's stock after acquiring an additional 31,441 shares during the period. Axa S.A.'s holdings in TC Energy were worth $6,612,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of TC Energy in the 4th quarter valued at approximately $428,759,000. Mufg Securities Canada LTD. lifted its holdings in shares of TC Energy by 571.7% in the fourth quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company's stock valued at $288,043,000 after purchasing an additional 5,264,079 shares in the last quarter. FIL Ltd boosted its position in shares of TC Energy by 10.3% in the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock worth $1,325,558,000 after buying an additional 2,644,627 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of TC Energy during the fourth quarter valued at $102,405,000. Finally, Kayne Anderson Capital Advisors LP raised its position in TC Energy by 51.4% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company's stock valued at $225,310,000 after buying an additional 1,644,115 shares during the period. 83.13% of the stock is owned by institutional investors.

TC Energy Trading Down 0.7 %

Shares of TRP stock opened at $50.58 on Wednesday. The business's 50 day moving average is $47.83 and its two-hundred day moving average is $47.34. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. TC Energy Co. has a 12 month low of $37.07 and a 12 month high of $52.04. The company has a market cap of $52.59 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78.

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

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.6142 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 annualized dividend and a dividend yield of 4.86%. TC Energy's dividend payout ratio is presently 77.89%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TRP. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. 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. StockNews.com downgraded shares of TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Royal Bank of Canada boosted 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. Finally, US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, TC Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Profile

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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