TC Energy Co. (NYSE:TRP) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 8.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,712,660 shares of the pipeline company's stock after purchasing an additional 360,548 shares during the period. Geode Capital Management LLC owned approximately 0.45% of TC Energy worth $225,890,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TRP. Captrust Financial Advisors grew its position in TC Energy by 1.3% during the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company's stock worth $871,000 after purchasing an additional 242 shares during the last quarter. Signaturefd LLC grew its holdings in shares of TC Energy by 1.6% during the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company's stock valued at $621,000 after buying an additional 261 shares during the last quarter. Prospera Financial Services Inc increased its position in shares of TC Energy by 4.8% in the 3rd quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company's stock valued at $274,000 after acquiring an additional 262 shares during the period. First Horizon Advisors Inc. increased its position in shares of TC Energy by 8.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company's stock valued at $167,000 after acquiring an additional 264 shares during the period. Finally, Blue Trust Inc. raised its stake in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock worth $30,000 after acquiring an additional 267 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Stock Performance

Shares of NYSE:TRP traded down $0.31 during trading on Friday, hitting $46.47. 5,936,294 shares of the stock traded hands, compared to its average volume of 2,297,504. The company has a fifty day moving average price of $47.74 and a two-hundred day moving average price of $44.27. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37. The company has a market cap of $48.23 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 3.88 and a beta of 0.82. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The company had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $2.83 billion. As a group, equities analysts predict that TC Energy Co. will post 3 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 7.08%. This is an increase from TC Energy's previous quarterly dividend of $0.70. TC Energy's dividend payout ratio is currently 78.95%.

Wall Street Analyst Weigh In

Several analysts have weighed in on TRP shares. JPMorgan Chase & Co. upgraded TC Energy from a "neutral" rating to an "overweight" rating in a research note on Monday, October 14th. Veritas upgraded TC Energy to a "strong sell" rating in a research report on Tuesday, October 8th. BMO Capital Markets raised their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 20th. UBS Group raised shares of TC Energy from a "neutral" rating to a "buy" rating in a report on Monday, September 30th. Finally, StockNews.com started coverage on shares of TC Energy in a research note on Wednesday, December 4th. They issued a "hold" rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $55.67.

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.