TC Energy Corporation $TRP Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 80.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 526,181 shares of the pipeline company’s stock after acquiring an additional 234,594 shares during the period. Massachusetts Financial Services Co. MA’s holdings in TC Energy were worth $28,945,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TRP. AQR Capital Management LLC lifted its holdings in TC Energy by 54.0% in the first quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock valued at $538,000 after acquiring an additional 3,892 shares during the last quarter. Focus Partners Wealth lifted its stake in TC Energy by 46.1% during the first quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock worth $588,000 after purchasing an additional 3,929 shares in the last quarter. Intech Investment Management LLC lifted its stake in TC Energy by 200.7% during the first quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock worth $1,269,000 after purchasing an additional 17,939 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in TC Energy by 50.5% during the second quarter. EverSource Wealth Advisors LLC now owns 3,706 shares of the pipeline company’s stock worth $181,000 after purchasing an additional 1,243 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its stake in TC Energy by 9.9% during the second quarter. Guggenheim Capital LLC now owns 16,758 shares of the pipeline company’s stock worth $818,000 after purchasing an additional 1,511 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TRP shares. Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a research report on Monday, December 29th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research report on Friday, February 20th. Finally, Royal Bank Of Canada upped their price objective on TC Energy from $84.00 to $92.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, TC Energy currently has an average rating of “Hold” and a consensus price target of $72.50.

TC Energy Stock Performance

NYSE:TRP opened at $60.95 on Thursday. The firm has a market capitalization of $63.49 billion, a PE ratio of 26.23 and a beta of 0.69. The business’s fifty day moving average price is $63.00 and its 200 day moving average price is $57.18. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.63 and a quick ratio of 0.56. TC Energy Corporation has a 12 month low of $46.29 and a 12 month high of $65.57.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.94 billion. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.During the same quarter in the prior year, the company posted $1.05 earnings per share. On average, sell-side analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 5.8%. This is a boost from TC Energy’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Tuesday, March 31st. TC Energy’s dividend payout ratio is currently 108.62%.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long?distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.