Russell Investments Group Ltd. lessened its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 19.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 784,069 shares of the pipeline company's stock after selling 193,970 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.08% of TC Energy worth $36,521,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Prudential PLC bought a new position in TC Energy during the 4th quarter valued at $289,000. World Investment Advisors bought a new position in shares of TC Energy during the fourth quarter valued at about $247,000. Cinctive Capital Management LP lifted its position in shares of TC Energy by 12.3% during the fourth quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company's stock valued at $9,042,000 after purchasing an additional 21,243 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in TC Energy during the fourth quarter worth about $4,841,000. Finally, Trexquant Investment LP bought a new stake in TC Energy in the 4th quarter worth about $3,156,000. Hedge funds and other institutional investors own 83.13% of the company's stock.
TC Energy Stock Performance
TC Energy stock traded up $2.01 during mid-day trading on Friday, reaching $47.42. The company's stock had a trading volume of 2,834,721 shares, compared to its average volume of 2,654,052. The firm's fifty day moving average price is $46.60 and its two-hundred day moving average price is $46.94. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. TC Energy Co. has a 12-month low of $34.95 and a 12-month high of $50.37. The company has a market capitalization of $49.28 billion, a P/E ratio of 14.64, a PEG ratio of 4.34 and a beta of 0.74.
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 for the quarter, beating the consensus estimate of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to analysts' expectations 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 earnings per share. Sell-side analysts predict that TC Energy Co. will post 2.63 EPS for the current fiscal year.
TC Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.85 per share. The ex-dividend date is Monday, March 31st. This is a boost from TC Energy's previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 7.17%. TC Energy's dividend payout ratio is currently 72.53%.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. Royal Bank of Canada lifted their target price on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. TD Securities started coverage on shares of TC Energy in a research report on Wednesday, January 15th. They issued a "buy" rating on the stock. StockNews.com downgraded shares of TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Veritas raised shares of 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 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $62.00.
Get Our Latest Stock Analysis on TC Energy
TC Energy Profile
(
Free Report)
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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