Aviva PLC Has $29.05 Million Stock Position in TC Energy Co. (NYSE:TRP)

Aviva PLC lessened its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 51.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 624,537 shares of the pipeline company's stock after selling 666,766 shares during the period. Aviva PLC owned 0.06% of TC Energy worth $29,047,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Prudential PLC acquired a new stake in shares of TC Energy during the fourth quarter worth $289,000. World Investment Advisors bought a new stake in shares of TC Energy in the 4th quarter valued at about $247,000. Cinctive Capital Management LP raised its position in shares of TC Energy by 12.3% in the 4th quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company's stock valued at $9,042,000 after acquiring an additional 21,243 shares during the period. Massachusetts Financial Services Co. MA bought a new position in TC Energy during the 4th quarter worth approximately $4,841,000. Finally, Trexquant Investment LP bought a new position in TC Energy during the 4th quarter worth approximately $3,156,000. Institutional investors own 83.13% of the company's stock.

Analyst Upgrades and Downgrades

TRP has been the topic of several analyst reports. StockNews.com lowered shares of TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Royal Bank of Canada raised their price objective on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Citigroup initiated coverage on TC Energy in a report on Friday, April 4th. They issued a "neutral" rating for the company. TD Securities began coverage on TC Energy in a report on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

Remove Ads

TC Energy Stock Up 3.6 %

Shares of NYSE:TRP traded up $1.63 during mid-day trading on Friday, reaching $47.04. 535,362 shares of the stock were exchanged, compared to its average volume of 2,664,146. The stock's 50 day simple moving average is $46.59 and its 200-day simple moving average is $46.95. TC Energy Co. has a one year low of $34.95 and a one year high of $50.37. The company has a market cap of $48.89 billion, a P/E ratio of 14.52, a P/E/G ratio of 4.34 and a beta of 0.74. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

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

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.85 dividend. This is a positive change from TC Energy's previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a yield of 7.23%. The ex-dividend date of this dividend is Monday, March 31st. TC Energy's payout ratio is presently 72.53%.

TC Energy 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.