TC Energy Co. (NYSE:TRP) Shares Sold by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. cut its holdings in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 4.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,419,147 shares of the pipeline company's stock after selling 71,872 shares during the period. Capital Group Private Client Services Inc. owned about 0.14% of TC Energy worth $66,109,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TRP. SBI Securities Co. Ltd. acquired a new stake in TC Energy during the 4th quarter valued at $31,000. Versant Capital Management Inc acquired a new stake in shares of TC Energy during the fourth quarter valued at $33,000. Synergy Investment Management LLC purchased a new stake in TC Energy during the 4th quarter worth about $36,000. Millstone Evans Group LLC acquired a new position in TC Energy in the 4th quarter valued at about $41,000. Finally, First Command Advisory Services Inc. purchased a new position in TC Energy in the 4th quarter valued at about $46,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. TD Securities started coverage on shares of TC Energy in a research report on Wednesday, January 15th. They issued a "buy" rating for the company. Royal Bank of Canada increased their price target 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 assumed coverage on TC Energy in a research report on Friday, April 4th. They issued a "neutral" rating for the company. Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Finally, StockNews.com cut TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Trading Down 0.4 %

TRP stock traded down $0.19 during midday trading on Wednesday, reaching $48.82. 827,062 shares of the company's stock traded hands, compared to its average volume of 2,579,860. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. TC Energy Co. has a fifty-two week low of $35.38 and a fifty-two week high of $50.37. The business has a 50-day moving average price of $46.84 and a two-hundred day moving average price of $47.07. The company has a market capitalization of $50.74 billion, a P/E ratio of 15.07, a PEG ratio of 4.34 and a beta of 0.74.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $2.42 billion. During the same quarter in the previous year, the business posted $1.35 EPS. Equities research analysts forecast that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business 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. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 6.96%. This is a positive change from TC Energy's previous quarterly dividend of $0.82. TC Energy's dividend payout ratio (DPR) is 72.84%.

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.