TC Energy Co. (NYSE:TRP) Shares Bought by American Century Companies Inc.

American Century Companies Inc. raised its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 246,855 shares of the pipeline company's stock after purchasing an additional 14,076 shares during the quarter. American Century Companies Inc.'s holdings in TC Energy were worth $11,504,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. grew its holdings in TC Energy by 6.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,175,940 shares of the pipeline company's stock worth $333,993,000 after acquiring an additional 405,965 shares during the period. CIBC Asset Management Inc increased its holdings in shares of TC Energy by 8.4% during the 4th quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company's stock valued at $331,863,000 after purchasing an additional 551,980 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in shares of TC Energy by 51.4% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company's stock valued at $225,310,000 after purchasing an additional 1,644,115 shares during the period. Geode Capital Management LLC boosted its holdings in TC Energy by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company's stock worth $225,890,000 after buying an additional 360,548 shares in the last quarter. Finally, Merewether Investment Management LP grew its position in TC Energy by 37.9% during the third quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company's stock valued at $194,776,000 after buying an additional 1,127,000 shares during the period. 83.13% of the stock is owned by institutional investors and hedge funds.

Remove Ads

TC Energy Stock Up 0.1 %

Shares of NYSE:TRP traded up $0.03 during trading hours on Thursday, reaching $48.75. The stock had a trading volume of 4,826,194 shares, compared to its average volume of 2,629,354. TC Energy Co. has a 1 year low of $34.95 and a 1 year high of $50.37. The firm's 50 day moving average is $46.57 and its 200-day moving average is $46.98. The stock has a market capitalization of $50.66 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 4.34 and a beta of 0.83. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.54. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the prior year, the company posted $1.35 earnings per share. Research analysts predict that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.85 per share. The ex-dividend date is Monday, March 31st. This is an increase from TC Energy's previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 6.97%. TC Energy's dividend payout ratio (DPR) is currently 72.53%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TRP. Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Royal Bank of Canada lifted their price objective on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. StockNews.com cut TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. 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. Finally, TD Securities assumed coverage on TC Energy in a report on Wednesday, January 15th. They issued a "buy" rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, TC Energy presently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

About TC Energy

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.