Capital World Investors Decreases Stock Position in TC Energy Corporation $TRP

Capital World Investors decreased its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 13.7% during the third quarter, Holdings Channel.com reports. The fund owned 7,310,696 shares of the pipeline company’s stock after selling 1,162,129 shares during the period. Capital World Investors’ holdings in TC Energy were worth $397,673,000 as of its most recent SEC filing.

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

TC Energy Trading Up 0.5%

Shares of NYSE:TRP opened at $63.69 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. TC Energy Corporation has a 12-month low of $43.59 and a 12-month high of $65.57. The business has a 50 day moving average of $59.06 and a two-hundred day moving average of $55.17. The company has a market capitalization of $66.31 billion, a PE ratio of 27.40 and a beta of 0.72.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the company earned $1.05 EPS. As a group, analysts forecast 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 issued a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.85. TC Energy’s payout ratio is presently 106.90%.

Analyst Ratings Changes

TRP has been the topic of a number of research reports. Raymond James Financial raised TC Energy to a “hold” rating in a report on Tuesday, February 17th. Morgan Stanley reissued an “overweight” rating on shares of TC Energy in a research report on Wednesday, January 28th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of TC Energy in a report on Monday, February 16th. Citigroup reiterated a “neutral” rating on shares of TC Energy in a research note on Thursday, February 19th. Finally, TD Securities cut shares of TC Energy from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.