TC Energy Corporation $TRP Shares Bought by Capital World Investors

Capital World Investors boosted its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 0.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,327,124 shares of the pipeline company’s stock after purchasing an additional 16,428 shares during the period. Capital World Investors’ holdings in TC Energy were worth $403,216,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its position in TC Energy by 38.8% during the third quarter. Advisors Asset Management Inc. now owns 88,140 shares of the pipeline company’s stock worth $4,796,000 after acquiring an additional 24,617 shares during the period. Citigroup Inc. raised its position in TC Energy by 19.2% during the third quarter. Citigroup Inc. now owns 378,086 shares of the pipeline company’s stock worth $20,562,000 after acquiring an additional 61,013 shares during the period. Vanguard Group Inc. raised its position in TC Energy by 2.0% during the third quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company’s stock worth $2,545,777,000 after acquiring an additional 914,168 shares during the period. Massachusetts Financial Services Co. MA raised its position in TC Energy by 80.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 526,181 shares of the pipeline company’s stock worth $28,945,000 after acquiring an additional 234,594 shares during the period. Finally, JPMorgan Chase & Co. raised its position in TC Energy by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 11,237,084 shares of the pipeline company’s stock worth $611,410,000 after acquiring an additional 512,759 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Price Performance

Shares of NYSE TRP opened at $68.73 on Monday. The firm has a 50-day simple moving average of $65.10 and a 200-day simple moving average of $60.57. The stock has a market capitalization of $68.73 billion, a price-to-earnings ratio of 29.83 and a beta of 0.66. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. TC Energy Corporation has a 52 week low of $46.29 and a 52 week high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same period in the prior year, the business earned $0.95 earnings per share. On average, equities analysts predict that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Tuesday, June 30th. TC Energy’s dividend payout ratio is 109.57%.

Wall Street Analysts Forecast Growth

TRP has been the subject of a number of research analyst reports. Citigroup restated a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Weiss Ratings cut shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. Finally, Barclays reiterated an “overweight” rating on shares of TC Energy in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, TC Energy has an average rating of “Moderate Buy” and an average target price of $78.50.

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.