Capital Group Private Client Services Inc. Has $66.11 Million Stock Holdings in TC Energy Co. (NYSE:TRP)

Capital Group Private Client Services Inc. lowered its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,419,147 shares of the pipeline company’s stock after selling 71,872 shares during the period. Capital Group Private Client Services Inc. owned about 0.14% of TC Energy worth $66,109,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of TRP. Addenda Capital Inc. raised its stake in TC Energy by 4.4% during the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock worth $48,135,000 after acquiring an additional 43,639 shares in the last quarter. Ritholtz Wealth Management increased its position in TC Energy by 44.8% during the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock worth $1,115,000 after purchasing an additional 7,412 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in TC Energy by 7.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company’s stock valued at $10,463,000 after purchasing an additional 16,334 shares during the last quarter. Cinctive Capital Management LP boosted its position in TC Energy by 12.3% in the fourth quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company’s stock valued at $9,042,000 after buying an additional 21,243 shares in the last quarter. Finally, Guardian Partners Inc. bought a new stake in shares of TC Energy during the fourth quarter worth $8,614,000. 83.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on TRP. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. StockNews.com lowered TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Royal Bank of Canada upped their price objective on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Citigroup began coverage on shares of TC Energy in a research report on Friday, April 4th. They set a “neutral” rating on the stock. Finally, US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Trading Up 1.1 %

NYSE:TRP opened at $49.44 on Friday. TC Energy Co. has a 52 week low of $34.95 and a 52 week high of $50.37. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The firm’s fifty day moving average is $46.73 and its 200-day moving average is $46.99. The firm has a market cap of $51.39 billion, a P/E ratio of 15.26, a P/E/G ratio of 4.34 and a beta of 0.74.

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

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.85 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date is Monday, March 31st. TC Energy’s payout ratio is presently 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.