Envestnet Asset Management Inc. Cuts Stock Position in TC Energy Co. (NYSE:TRP)

Envestnet Asset Management Inc. lessened its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 1.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,550,025 shares of the pipeline company's stock after selling 17,698 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.15% of TC Energy worth $72,137,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of TC Energy by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company's stock worth $2,035,952,000 after buying an additional 734,678 shares in the last quarter. TD Asset Management Inc. lifted its position in TC Energy by 2.1% in the fourth quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company's stock valued at $765,627,000 after buying an additional 344,485 shares during the last quarter. Norges Bank acquired a new stake in shares of TC Energy during the fourth quarter worth about $428,759,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of 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 purchasing an additional 405,965 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of TC Energy by 8.4% during the fourth quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company's stock worth $331,863,000 after purchasing an additional 551,980 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TRP. Royal Bank of Canada raised their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" 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 report on Monday, February 3rd. Citigroup assumed coverage on shares of TC Energy in a research report on Friday, April 4th. They set a "neutral" rating on the stock. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Finally, TD Securities initiated 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, 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, TC Energy has an average rating of "Moderate Buy" and an average price target of $62.00.

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TC Energy Price Performance

TC Energy stock opened at $46.12 on Thursday. The firm has a market capitalization of $47.93 billion, a PE ratio of 14.23, 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. The firm's 50-day simple moving average is $46.58 and its 200 day simple moving average is $46.96. TC Energy Co. has a 52 week low of $34.95 and a 52 week high of $50.37.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data 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 company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the company posted $1.35 EPS. On average, equities research analysts predict that TC Energy Co. will post 2.63 EPS for the current fiscal 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. This represents a $3.40 dividend on an annualized basis and a yield of 7.37%. The ex-dividend date is Monday, March 31st. This is an increase from TC Energy's previous quarterly dividend of $0.82. TC Energy's dividend payout ratio is 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.

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