Geode Capital Management LLC Buys 1,444,112 Shares of TC Energy Co. (NYSE:TRP)

Geode Capital Management LLC boosted its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 30.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,156,772 shares of the pipeline company's stock after acquiring an additional 1,444,112 shares during the quarter. Geode Capital Management LLC owned 0.59% of TC Energy worth $290,757,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans purchased a new position in shares of TC Energy during the 3rd quarter valued at about $236,000. FMR LLC raised its stake in shares of TC Energy by 2,821.8% during the third quarter. FMR LLC now owns 574,427 shares of the pipeline company's stock worth $27,311,000 after acquiring an additional 554,767 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company's stock worth $871,000 after acquiring an additional 242 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of TC Energy in the 3rd quarter worth approximately $92,000. Finally, Benjamin Edwards Inc. purchased a new stake in shares of TC Energy in the 3rd quarter valued at $749,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Stock Down 1.4 %

Shares of NYSE TRP traded down $0.65 during mid-day trading on Thursday, hitting $45.43. 902,679 shares of the stock traded hands, compared to its average volume of 2,667,080. The company has a market cap of $47.21 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 4.34 and a beta of 0.74. The stock has a fifty day moving average price of $46.58 and a 200-day moving average price of $46.96. TC Energy Co. has a 52 week low of $34.95 and a 52 week high of $50.37. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55.

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TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its 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. The firm had revenue of $2.56 billion for 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 quarter in the previous year, the business posted $1.35 EPS. Research analysts anticipate 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 issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 7.48%. This is a positive change from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. TC Energy's dividend payout ratio (DPR) is presently 72.53%.

Analysts Set New Price Targets

Several analysts have issued reports on TRP shares. StockNews.com lowered shares of TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Citigroup initiated coverage on shares of TC Energy in a research report on Friday, April 4th. They issued a "neutral" rating on the stock. Royal Bank of Canada increased their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. 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 given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, TC Energy presently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

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.