Bank of New York Mellon Corp Boosts Stock Position in TC Energy Co. (NYSE:TRP)

Bank of New York Mellon Corp raised its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 8.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 905,014 shares of the pipeline company's stock after buying an additional 69,419 shares during the period. Bank of New York Mellon Corp owned about 0.09% of TC Energy worth $42,110,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of TC Energy by 156.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company's stock valued at $321,778,000 after purchasing an additional 4,126,801 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in TC Energy in the 3rd quarter valued at $73,162,000. Merewether Investment Management LP lifted its stake in TC Energy by 37.9% during the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company's stock valued at $194,776,000 after acquiring an additional 1,127,000 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its stake in TC Energy by 70.7% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company's stock valued at $83,874,000 after acquiring an additional 730,415 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in TC Energy by 29.2% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company's stock worth $152,072,000 after acquiring an additional 722,619 shares during the last quarter. Institutional investors own 83.13% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts have recently commented on TRP shares. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. 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. StockNews.com downgraded TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday. TD Securities initiated coverage on TC Energy in a report on Wednesday, January 15th. They issued a "buy" rating for the company. Finally, BMO Capital Markets lifted their price target on TC Energy from $66.00 to $70.00 and gave the stock a "market perform" rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Performance

TC Energy stock traded up $0.30 during trading on Monday, hitting $46.18. The stock had a trading volume of 1,848,891 shares, compared to its average volume of 2,582,767. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The stock's 50 day moving average is $46.28 and its two-hundred day moving average is $46.75. TC Energy Co. has a 1 year low of $34.95 and a 1 year high of $50.37. The stock has a market cap of $47.99 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83.

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 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The firm 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 earned $1.35 EPS. As a group, analysts predict that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.85 dividend. This is an increase from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 7.36%. TC Energy's dividend payout ratio (DPR) is presently 72.53%.

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.