Russell Investments Group Ltd. Reduces Position in TC Energy Co. (NYSE:TRP)

Russell Investments Group Ltd. trimmed its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 19.8% in the 4th quarter, HoldingsChannel reports. The firm owned 784,069 shares of the pipeline company’s stock after selling 193,970 shares during the period. Russell Investments Group Ltd.’s holdings in TC Energy were worth $36,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of TRP. FMR LLC raised its stake in shares of TC Energy by 2,821.8% in the third quarter. FMR LLC now owns 574,427 shares of the pipeline company’s stock worth $27,311,000 after buying an additional 554,767 shares during the period. Captrust Financial Advisors lifted its stake in TC Energy by 1.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after purchasing an additional 242 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of TC Energy in the third quarter worth about $39,000. Quantinno Capital Management LP lifted its position in shares of TC Energy by 29.9% in the third quarter. Quantinno Capital Management LP now owns 22,845 shares of the pipeline company’s stock worth $1,087,000 after buying an additional 5,256 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in TC Energy by 0.6% during the third quarter. Two Sigma Advisers LP now owns 314,100 shares of the pipeline company’s stock valued at $14,935,000 after buying an additional 2,000 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Performance

TRP stock opened at $45.75 on Tuesday. The firm has a market cap of $47.54 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 4.34 and a beta of 0.74. TC Energy Co. has a twelve month low of $34.95 and a twelve month high of $50.37. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The business’s fifty day simple moving average is $46.57 and its two-hundred day simple moving average is $47.00.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 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 business posted $1.35 EPS. Analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.85 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 7.43%. This is a boost from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is 72.53%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Royal Bank of Canada upped their price objective on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Citigroup assumed coverage on TC Energy in a research report on Friday. They issued a “neutral” rating for the company. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Finally, StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.