2,200,494 Shares in TC Energy Co. (NYSE:TRP) Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership purchased a new stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,200,494 shares of the pipeline company's stock, valued at approximately $102,405,000. Arrowstreet Capital Limited Partnership owned approximately 0.21% of TC Energy at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Intrust Bank NA increased its position in TC Energy by 8.7% during the 4th quarter. Intrust Bank NA now owns 10,122 shares of the pipeline company's stock worth $471,000 after buying an additional 808 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in TC Energy by 6.9% in the fourth quarter. Orion Portfolio Solutions LLC now owns 7,764 shares of the pipeline company's stock valued at $361,000 after acquiring an additional 502 shares during the last quarter. Premier Fund Managers Ltd raised its position in shares of TC Energy by 56.3% in the 4th quarter. Premier Fund Managers Ltd now owns 50,000 shares of the pipeline company's stock worth $2,330,000 after acquiring an additional 18,000 shares in the last quarter. Duff & Phelps Investment Management Co. raised its holdings in shares of TC Energy by 2.6% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,809,457 shares of the pipeline company's stock valued at $84,194,000 after purchasing an additional 45,542 shares during the period. Finally, Norges Bank acquired a new position in shares of TC Energy during the fourth quarter valued at about $428,759,000. Institutional investors and hedge funds own 83.13% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts have recently issued reports on TRP shares. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. Veritas raised shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. TD Securities started coverage on shares of TC Energy in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Royal Bank of Canada boosted their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Finally, StockNews.com lowered TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Trading Up 2.0 %

Shares of NYSE TRP traded up $0.97 during mid-day trading on Wednesday, reaching $48.77. The company had a trading volume of 1,671,325 shares, compared to its average volume of 2,627,078. The stock has a market cap of $50.69 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. TC Energy Co. has a 52 week low of $34.95 and a 52 week high of $50.37. The business's 50-day moving average is $46.57 and its 200-day moving average is $46.98. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its 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 the consensus estimate of $2.42 billion. During the same quarter last year, the firm posted $1.35 EPS. 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. Investors of record on Monday, March 31st will be given 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 dividend on an annualized basis and a yield of 6.97%. TC Energy's payout ratio is currently 72.53%.

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.