Capital International Sarl Has $14.60 Million Position in TC Energy Co. (NYSE:TRP)

Capital International Sarl cut its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 11.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 313,476 shares of the pipeline company’s stock after selling 39,531 shares during the quarter. Capital International Sarl’s holdings in TC Energy were worth $14,604,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co lifted its stake in shares of TC Energy by 3.9% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,140,672 shares of the pipeline company’s stock valued at $52,981,000 after purchasing an additional 42,578 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in TC Energy by 9.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company’s stock valued at $686,763,000 after buying an additional 1,280,000 shares in the last quarter. Coleford Investment Management Ltd. acquired a new stake in shares of TC Energy in the fourth quarter worth about $13,403,000. Marshall Wace LLP boosted its stake in shares of TC Energy by 42.9% during the 4th quarter. Marshall Wace LLP now owns 812,310 shares of the pipeline company’s stock worth $37,797,000 after acquiring an additional 243,874 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of TC Energy by 27.2% during the 4th quarter. NewEdge Advisors LLC now owns 65,566 shares of the pipeline company’s stock valued at $3,051,000 after acquiring an additional 14,034 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TRP. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Royal Bank of Canada boosted their price objective on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Citigroup started coverage on shares of TC Energy in a report on Friday, April 4th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Price Performance

Shares of TC Energy stock opened at $49.44 on Friday. 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 company has a market cap of $51.39 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74. The firm has a fifty day moving average price of $46.73 and a two-hundred day moving average price of $46.99. TC Energy Co. has a fifty-two week low of $34.95 and a fifty-two week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter last year, the company earned $1.35 earnings per share. Analysts expect that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 6.88%. The ex-dividend date is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is presently 72.84%.

TC Energy Company 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.