6,210 Shares in TC Energy Co. (NYSE:TRP) Bought by Prudential PLC

Prudential PLC purchased a new stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,210 shares of the pipeline company's stock, valued at approximately $289,000.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of TC Energy by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company's stock worth $2,035,952,000 after acquiring an additional 734,678 shares during the period. TD Asset Management Inc. increased its position in shares of 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 in the last quarter. Norges Bank acquired a new position in shares of TC Energy during the 4th quarter worth approximately $428,759,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of TC Energy by 6.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,175,940 shares of the pipeline company's stock valued at $333,993,000 after buying an additional 405,965 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in TC Energy by 8.4% in the 4th quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company's stock valued at $331,863,000 after acquiring an additional 551,980 shares during the period. 83.13% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

TRP has been the subject of several research reports. TD Securities assumed coverage on TC Energy in a research note on Wednesday, January 15th. They set a "buy" rating for the company. Citigroup initiated coverage on shares of TC Energy in a research report on Friday, April 4th. They issued a "neutral" rating for the company. Royal Bank of Canada upped their price objective on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research note 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 raised TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Stock Up 0.6 %

Shares of TRP traded up $0.30 during midday trading on Monday, reaching $47.77. The stock had a trading volume of 304,950 shares, compared to its average volume of 2,644,825. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The company's fifty day simple moving average is $46.60 and its two-hundred day simple moving average is $46.94. The company has a market cap of $49.65 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 4.34 and a beta of 0.74. TC Energy Co. has a 1-year low of $34.95 and a 1-year high of $50.37.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.54. The firm 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 prior year, the company posted $1.35 earnings per share. Equities research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.12%. This is a positive change from TC Energy's previous quarterly dividend of $0.82. TC Energy's dividend payout ratio (DPR) is currently 72.84%.

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.