TC Energy Corporation $TRP Shares Sold by Capital International Sarl

Capital International Sarl reduced its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 34.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 156,746 shares of the pipeline company’s stock after selling 83,704 shares during the quarter. Capital International Sarl’s holdings in TC Energy were worth $8,524,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital International Inc. CA raised its position in shares of TC Energy by 13.2% in the 3rd quarter. Capital International Inc. CA now owns 502,181 shares of the pipeline company’s stock valued at $27,313,000 after purchasing an additional 58,460 shares during the last quarter. Russell Investments Group Ltd. increased its stake in TC Energy by 11.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 777,422 shares of the pipeline company’s stock valued at $42,262,000 after purchasing an additional 78,000 shares in the last quarter. Private Advisor Group LLC increased its stake in TC Energy by 1.7% during the 3rd quarter. Private Advisor Group LLC now owns 14,391 shares of the pipeline company’s stock valued at $783,000 after purchasing an additional 235 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of TC Energy by 9.8% in the third quarter. Natixis Advisors LLC now owns 84,449 shares of the pipeline company’s stock worth $4,595,000 after buying an additional 7,563 shares during the last quarter. Finally, Perennial Investment Advisors LLC acquired a new stake in shares of TC Energy during the third quarter worth $231,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

NYSE:TRP opened at $63.69 on Wednesday. The firm’s fifty day moving average is $59.06 and its two-hundred day moving average is $55.17. The firm has a market cap of $66.31 billion, a price-to-earnings ratio of 27.40 and a beta of 0.72. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63. TC Energy Corporation has a one year low of $43.59 and a one year high of $65.57.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The business had revenue of $2.20 billion during 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 last year, the business posted $1.05 EPS. Research analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.8775 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 annualized dividend and a yield of 5.5%. The ex-dividend date is Tuesday, March 31st. TC Energy’s dividend payout ratio (DPR) is 106.90%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TRP shares. Canadian Imperial Bank of Commerce downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Morgan Stanley reiterated an “overweight” rating on shares of TC Energy in a research note on Wednesday, January 28th. TD Securities lowered TC Energy from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. National Bank Financial cut TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Royal Bank Of Canada lifted their target price on TC Energy from $84.00 to $92.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $72.50.

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.