TC Energy Co. (NYSE:TRP) Shares Acquired by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd boosted its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 54.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 288,221 shares of the pipeline company's stock after buying an additional 101,305 shares during the period. TC Energy accounts for approximately 4.0% of Ausbil Investment Management Ltd's investment portfolio, making the stock its 5th largest holding. Ausbil Investment Management Ltd's holdings in TC Energy were worth $13,716,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its position in TC Energy by 2.7% in the 1st quarter. Capital Research Global Investors now owns 57,170,304 shares of the pipeline company's stock valued at $2,297,701,000 after acquiring an additional 1,492,315 shares during the period. Vanguard Group Inc. increased its holdings in shares of TC Energy by 1.6% during the first quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company's stock valued at $1,650,505,000 after purchasing an additional 653,031 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of TC Energy by 107.1% during the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company's stock valued at $737,609,000 after purchasing an additional 10,065,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of TC Energy by 94.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company's stock worth $688,534,000 after buying an additional 8,339,800 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in TC Energy by 9.5% in the first quarter. TD Asset Management Inc now owns 16,763,150 shares of the pipeline company's stock worth $674,366,000 after purchasing an additional 1,458,732 shares during the period. 83.13% of the stock is currently owned by institutional investors.

TC Energy Trading Up 0.1 %

Shares of TRP stock traded up $0.03 during trading hours on Thursday, reaching $46.99. 1,398,149 shares of the stock traded hands, compared to its average volume of 3,192,761. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $48.77 billion, a PE ratio of 19.26, a PEG ratio of 3.92 and a beta of 0.81. TC Energy Co. has a 1-year low of $30.61 and a 1-year high of $48.25. The business has a fifty day moving average price of $46.08 and a 200 day moving average price of $41.40.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the prior year, the company earned $0.71 earnings per share. On average, equities research analysts forecast that TC Energy Co. will post 3.02 EPS for the current year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy's payout ratio is presently 116.80%.

Analysts Set New Price Targets

A number of analysts have recently commented on TRP shares. UBS Group raised TC Energy from a "neutral" rating to a "buy" rating in a research note on Monday, September 30th. JPMorgan Chase & Co. upgraded shares of TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday, October 14th. The Goldman Sachs Group boosted their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a "sell" rating in a report on Monday. StockNews.com initiated coverage on shares of TC Energy in a report on Saturday, October 5th. They set a "hold" rating for the company. Finally, Barclays raised TC Energy from an "equal weight" rating to an "overweight" rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $48.50.

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.