Sumitomo Mitsui Trust Group Inc. Has $2.06 Million Stock Holdings in TC Energy Co. (NYSE:TRP)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 32.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,392 shares of the pipeline company’s stock after buying an additional 10,637 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in TC Energy were worth $2,063,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Capital Research Global Investors raised its holdings in TC Energy by 2.7% during the first quarter. Capital Research Global Investors now owns 57,170,304 shares of the pipeline company’s stock worth $2,297,701,000 after buying an additional 1,492,315 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of TC Energy by 1.6% in the first quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company’s stock valued at $1,650,505,000 after purchasing an additional 653,031 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of TC Energy by 107.1% in the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after purchasing an additional 10,065,000 shares during the last quarter. Murchinson Ltd. purchased a new stake in shares of TC Energy in the first quarter valued at about $506,485,000. Finally, Legal & General Group Plc raised its holdings in shares of TC Energy by 4.1% in the second quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock valued at $450,749,000 after purchasing an additional 467,497 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analysts Set New Price Targets

TRP has been the subject of several analyst reports. The Goldman Sachs Group increased their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. StockNews.com started coverage on shares of TC Energy in a research report on Monday. They set a “hold” rating for the company. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Finally, Veritas upgraded shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and a consensus target price of $48.50.

TC Energy Price Performance

Shares of NYSE:TRP opened at $49.90 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $51.79 billion, a PE ratio of 13.82, a P/E/G ratio of 4.12 and a beta of 0.81. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.22. The company has a 50-day moving average price of $46.93 and a two-hundred day moving average price of $42.92.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. Equities analysts forecast that TC Energy Co. will post 2.98 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. This represents a $3.29 dividend on an annualized basis and a yield of 6.59%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is currently 78.95%.

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.