Charles Schwab Investment Management Inc. Buys 34,881 Shares of TC Energy Corporation $TRP

Charles Schwab Investment Management Inc. grew its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 1.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,875,714 shares of the pipeline company’s stock after buying an additional 34,881 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in TC Energy were worth $140,120,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TRP. American Century Companies Inc. raised its stake in TC Energy by 321.1% during the 2nd quarter. American Century Companies Inc. now owns 1,056,489 shares of the pipeline company’s stock worth $51,577,000 after buying an additional 805,619 shares during the period. Legal & General Group Plc increased its holdings in shares of TC Energy by 4.9% during the second quarter. Legal & General Group Plc now owns 9,645,179 shares of the pipeline company’s stock valued at $469,954,000 after acquiring an additional 446,294 shares in the last quarter. MAI Capital Management increased its holdings in shares of TC Energy by 34.0% during the second quarter. MAI Capital Management now owns 3,470 shares of the pipeline company’s stock valued at $169,000 after acquiring an additional 881 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of TC Energy by 7.4% during the second quarter. JPMorgan Chase & Co. now owns 10,724,325 shares of the pipeline company’s stock worth $523,240,000 after purchasing an additional 738,012 shares during the period. Finally, Magnetar Financial LLC bought a new position in shares of TC Energy in the 2nd quarter worth $452,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Cibc World Mkts lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Citigroup restated a “neutral” rating on shares of TC Energy in a report on Thursday, November 20th. Cibc Captl Mkts raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. BMO Capital Markets raised TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, November 7th. Finally, Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.00.

TC Energy Trading Up 0.6%

Shares of TRP stock opened at $54.02 on Thursday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The company has a market capitalization of $56.21 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 4.82 and a beta of 0.73. TC Energy Corporation has a 52-week low of $43.51 and a 52-week high of $55.37. The company has a 50-day simple moving average of $52.74 and a two-hundred day simple moving average of $50.68.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter last year, the firm earned $1.03 EPS. Research analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a $0.85 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend is Wednesday, December 31st. TC Energy’s payout ratio is presently 103.88%.

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.