Price T Rowe Associates Inc. MD Cuts Position in TC Energy Co. (NYSE:TRP)

Price T Rowe Associates Inc. MD reduced its position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 12.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,152,481 shares of the pipeline company's stock after selling 462,389 shares during the period. Price T Rowe Associates Inc. MD owned about 0.30% of TC Energy worth $146,685,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of TRP. Vanguard Group Inc. increased its stake in 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 purchasing an additional 734,678 shares during the period. FIL Ltd increased its stake in TC Energy by 10.3% during the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock worth $1,325,558,000 after buying an additional 2,644,627 shares during the period. TD Asset Management Inc. lifted its holdings in TC Energy by 2.1% during the 4th quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company's stock worth $765,627,000 after buying an additional 344,485 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in TC Energy by 9.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company's stock valued at $686,763,000 after buying an additional 1,280,000 shares during the period. Finally, Norges Bank acquired a new position in shares of TC Energy in the fourth quarter worth $428,759,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on TRP shares. Citigroup initiated coverage on TC Energy in a report on Friday, April 4th. They issued a "neutral" rating for the company. Royal Bank of Canada boosted their price target 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. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. TD Securities initiated coverage on shares of TC Energy in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Finally, Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the 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 Price Performance

Shares of TRP opened at $49.61 on Friday. The firm has a fifty day moving average price of $47.03 and a 200 day moving average price of $47.16. The stock has a market cap of $51.58 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74. TC Energy Co. has a 1-year low of $35.38 and a 1-year high of $50.37. 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 (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. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the previous year, the business earned $1.35 EPS. As a group, sell-side analysts anticipate that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.85 dividend. This is an increase from TC Energy's previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 6.85%. The ex-dividend date is Monday, March 31st. TC Energy's dividend payout ratio is presently 72.84%.

About TC Energy

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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