Bessemer Group Inc. Has $45.64 Million Stake in TC Energy Corporation $TRP

Bessemer Group Inc. decreased its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 2.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 828,134 shares of the pipeline company’s stock after selling 18,618 shares during the quarter. Bessemer Group Inc. owned 0.08% of TC Energy worth $45,635,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TRP. Trust Co. of Vermont acquired a new stake in TC Energy in the 4th quarter worth about $28,000. Westside Investment Management Inc. raised its position in shares of TC Energy by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after buying an additional 297 shares in the last quarter. McIlrath & Eck LLC acquired a new position in shares of TC Energy in the 4th quarter valued at approximately $32,000. SWAN Capital LLC acquired a new position in shares of TC Energy in the 3rd quarter valued at approximately $40,000. Finally, Smartleaf Asset Management LLC raised its position in shares of TC Energy by 237.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock valued at $43,000 after buying an additional 565 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analysts Set New Price Targets

TRP has been the subject of several analyst reports. The Goldman Sachs Group upgraded shares of TC Energy from a “sell” rating to a “neutral” rating and boosted their target price for the company from $53.00 to $62.00 in a research report on Monday, April 20th. Scotiabank restated an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. TD Securities restated a “hold” rating on shares of TC Energy in a research report on Monday, May 4th. Morgan Stanley restated an “overweight” rating on shares of TC Energy in a research report on Wednesday, January 28th. Finally, Canadian Imperial Bank of Commerce upgraded shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Price Performance

TRP stock opened at $68.23 on Friday. The company has a 50 day simple moving average of $63.58 and a 200 day simple moving average of $58.73. The stock has a market cap of $68.23 billion, a price-to-earnings ratio of 29.61 and a beta of 0.67. TC Energy Corporation has a 1 year low of $46.29 and a 1 year high of $68.30. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping 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 company earned $0.95 EPS. Research analysts anticipate that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Dividend Announcement

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

TC Energy Company Profile

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.