Axa S.A. Raises Stock Holdings in TC Energy Co. (NYSE:TRP)

AXA S.A. lifted its stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 28.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 142,095 shares of the pipeline company's stock after purchasing an additional 31,441 shares during the quarter. AXA S.A.'s holdings in TC Energy were worth $6,612,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of TC Energy by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company's stock worth $2,035,952,000 after purchasing an additional 734,678 shares during the last quarter. FIL Ltd lifted its stake in shares of TC Energy by 10.3% in the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock valued at $1,325,558,000 after acquiring an additional 2,644,627 shares during the last quarter. TD Asset Management Inc. boosted its holdings in TC Energy by 2.1% during the 4th quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company's stock valued at $765,627,000 after acquiring an additional 344,485 shares during the period. Canada Pension Plan Investment Board grew its position in TC Energy by 9.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company's stock worth $686,763,000 after acquiring an additional 1,280,000 shares during the last quarter. Finally, Norges Bank bought a new stake in TC Energy in the fourth quarter valued at approximately $428,759,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Price Performance

Shares of NYSE:TRP traded down $0.82 during midday trading on Monday, reaching $48.59. 326,187 shares of the company were exchanged, compared to its average volume of 2,514,817. TC Energy Co. has a one year low of $37.07 and a one year high of $51.34. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The business's fifty day moving average is $48.12 and its two-hundred day moving average is $47.40. The stock has a market cap of $50.52 billion, a PE ratio of 14.98, 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 issued its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). The company had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $2.57 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter last year, the company earned $1.02 earnings per share. As a group, analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.6142 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.06%. TC Energy's payout ratio is 77.89%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TRP shares. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. StockNews.com lowered shares of TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. TD Securities initiated coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. Finally, Citigroup assumed coverage on TC Energy in a research report on Friday, April 4th. They set a "neutral" rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, TC Energy has a consensus rating of "Moderate Buy" and a consensus price target 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.