TC Energy Co. (NYSE:TRP) Shares Sold by Invesco Ltd.

Invesco Ltd. trimmed its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,571,618 shares of the pipeline company’s stock after selling 23,802 shares during the period. Invesco Ltd.’s holdings in TC Energy were worth $166,187,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in TC Energy by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company’s stock valued at $2,035,952,000 after buying an additional 734,678 shares in the last quarter. TD Asset Management Inc. raised its holdings in shares of TC Energy by 2.1% during the fourth 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 last quarter. Norges Bank acquired a new position in shares of TC Energy during the fourth quarter valued at approximately $428,759,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of TC Energy by 6.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,175,940 shares of the pipeline company’s stock valued at $333,993,000 after acquiring an additional 405,965 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of TC Energy by 8.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company’s stock worth $331,863,000 after acquiring an additional 551,980 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

TC Energy stock opened at $47.42 on Friday. The company has a 50-day moving average price of $46.60 and a 200 day moving average price of $46.95. TC Energy Co. has a 12-month low of $34.95 and a 12-month high of $50.37. 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 stock has a market cap of $49.28 billion, a P/E ratio of 14.64, a PEG ratio of 4.34 and a beta of 0.74.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the prior year, the firm posted $1.35 earnings per share. Sell-side analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.17%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. TC Energy’s dividend payout ratio (DPR) is presently 72.53%.

Wall Street Analyst Weigh In

TRP has been the subject of several recent research reports. TD Securities began coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Citigroup began coverage on shares of TC Energy in a research report on Friday, April 4th. They set a “neutral” rating on the stock. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Finally, Royal Bank of Canada raised their target price 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

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.