Vanguard Group Inc. Buys 914,168 Shares of TC Energy Corporation $TRP

Vanguard Group Inc. grew its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 2.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 46,821,474 shares of the pipeline company’s stock after buying an additional 914,168 shares during the period. Vanguard Group Inc.’s holdings in TC Energy were worth $2,545,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in TRP. Campbell & CO Investment Adviser LLC bought a new stake in TC Energy in the third quarter valued at $1,391,000. Norges Bank bought a new stake in shares of TC Energy in the 2nd quarter worth about $493,434,000. Advisors Asset Management Inc. grew its holdings in shares of TC Energy by 38.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 88,140 shares of the pipeline company’s stock worth $4,796,000 after purchasing an additional 24,617 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of TC Energy by 9.2% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,365,500 shares of the pipeline company’s stock worth $74,297,000 after purchasing an additional 115,000 shares in the last quarter. Finally, Ausbil Investment Management Ltd lifted its holdings in TC Energy by 33.2% during the 3rd quarter. Ausbil Investment Management Ltd now owns 100,519 shares of the pipeline company’s stock valued at $5,415,000 after purchasing an additional 25,026 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Up 1.3%

Shares of TC Energy stock opened at $62.51 on Friday. The firm has a market cap of $65.09 billion, a PE ratio of 26.90 and a beta of 0.73. The business’s 50 day simple moving average is $56.81 and its 200 day simple moving average is $53.90. 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 52-week low of $43.59 and a 52-week high of $63.94.

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

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.8775 per share. 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. This represents a $3.51 annualized dividend and a yield of 5.6%. TC Energy’s payout ratio is presently 106.90%.

Analysts Set New Price Targets

TRP has been the topic of several research analyst reports. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research note on Friday. Wall Street Zen raised shares of TC Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. TD Securities cut shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy in a research note on Tuesday. Finally, Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.