TC Energy Co. (NYSE:TRP) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC reduced its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 19.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 581,604 shares of the pipeline company’s stock after selling 139,183 shares during the period. NFJ Investment Group LLC owned approximately 0.06% of TC Energy worth $27,062,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of TC Energy during the 4th quarter worth approximately $428,759,000. Mufg Securities Canada LTD. grew its position in TC Energy by 571.7% during the fourth quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company’s stock valued at $288,043,000 after buying an additional 5,264,079 shares during the period. FIL Ltd increased its holdings in TC Energy by 10.3% in the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company’s stock valued at $1,325,558,000 after buying an additional 2,644,627 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of TC Energy in the fourth quarter worth about $102,405,000. Finally, Kayne Anderson Capital Advisors LP boosted its stake in shares of TC Energy by 51.4% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company’s stock worth $225,310,000 after acquiring an additional 1,644,115 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TRP shares. Royal Bank of Canada upped their price target on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. TD Securities started coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Citigroup assumed coverage on shares of TC Energy in a report on Friday, April 4th. They set a “neutral” rating on the stock. Finally, Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, TC Energy currently has an average rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Stock Performance

TRP opened at $48.52 on Wednesday. The firm has a market capitalization of $50.42 billion, a PE ratio of 14.97, a PEG ratio of 4.34 and a beta of 0.74. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. TC Energy Co. has a twelve month low of $34.95 and a twelve month high of $50.37. The firm’s 50-day moving average price is $46.65 and its 200 day moving average price is $46.96.

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

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 7.01%. The ex-dividend date is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is currently 72.84%.

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.