Invesco Ltd. lessened its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,571,618 shares of the pipeline company's stock after selling 23,802 shares during the quarter. Invesco Ltd. owned 0.34% of TC Energy worth $166,187,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in TC Energy in the 4th quarter worth approximately $31,000. Versant Capital Management Inc acquired a new position in shares of TC Energy in the 4th quarter valued at $33,000. Synergy Investment Management LLC purchased a new stake in TC Energy during the fourth quarter worth $36,000. Millstone Evans Group LLC acquired a new stake in TC Energy during the fourth quarter valued at $41,000. Finally, First Command Advisory Services Inc. purchased a new position in TC Energy in the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 83.13% of the company's stock.
TC Energy Price Performance
Shares of TRP traded up $0.54 during trading hours on Friday, hitting $49.44. 3,376,859 shares of the stock were exchanged, compared to its average volume of 2,618,907. The stock's 50-day moving average price is $46.73 and its two-hundred day moving average price is $46.99. TC Energy Co. has a 12-month low of $34.95 and a 12-month 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. The company has a market cap of $51.39 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.54. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates 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 prior year, the firm earned $1.35 earnings per share. Research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.
TC Energy Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 6.88%. 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 72.84%.
Analyst Upgrades and Downgrades
TRP has been the topic of several recent analyst reports. 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 research note on Tuesday, February 18th. TD Securities began coverage on TC Energy in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Citigroup initiated coverage on TC Energy in a report on Friday, April 4th. They issued a "neutral" rating on the stock. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Finally, StockNews.com cut shares of TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $62.00.
Read Our Latest Stock Report on TRP
About TC Energy
(
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.
Featured Stories
Before you consider TC Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TC Energy wasn't on the list.
While TC Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
