Capital World Investors Buys 181,091 Shares of TC Energy Co. (NYSE:TRP)

Capital World Investors grew its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 37,412,046 shares of the pipeline company’s stock after purchasing an additional 181,091 shares during the period. Capital World Investors’ holdings in TC Energy were worth $1,461,583,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TRP. Capital Research Global Investors lifted its holdings in TC Energy by 23.7% during the fourth quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company’s stock valued at $2,174,931,000 after purchasing an additional 10,654,993 shares during the last quarter. Capital International Investors raised its holdings in TC Energy by 11.8% during the 4th quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock valued at $2,155,419,000 after acquiring an additional 5,822,056 shares during the period. Vanguard Group Inc. lifted its position in shares of TC Energy by 3.5% during the third quarter. Vanguard Group Inc. now owns 39,625,940 shares of the pipeline company’s stock worth $1,363,529,000 after acquiring an additional 1,344,000 shares in the last quarter. Bank of Nova Scotia boosted its holdings in shares of TC Energy by 13.7% in the fourth quarter. Bank of Nova Scotia now owns 28,980,334 shares of the pipeline company’s stock worth $1,132,854,000 after acquiring an additional 3,497,666 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of TC Energy by 18.0% in the third quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company’s stock worth $849,037,000 after acquiring an additional 3,740,495 shares during the period. Institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 3.1 %

NYSE:TRP traded up $1.19 on Wednesday, hitting $39.80. The stock had a trading volume of 3,455,190 shares, compared to its average volume of 2,991,175. The company has a fifty day moving average price of $37.74 and a two-hundred day moving average price of $38.62. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.64. The stock has a market cap of $39.80 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 3.21 and a beta of 0.79. TC Energy Co. has a 1-year low of $32.51 and a 1-year high of $41.85.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.12 billion. TC Energy had a return on equity of 17.94% and a net margin of 17.23%. Equities research analysts expect that TC Energy Co. will post 2.99 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, June 28th. This represents a $2.84 annualized dividend and a dividend yield of 7.14%. TC Energy’s dividend payout ratio (DPR) is currently 145.88%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Jefferies Financial Group started coverage on shares of TC Energy in a research note on Tuesday, February 27th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $48.83.

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.