FIL Ltd boosted its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 10.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,443,403 shares of the pipeline company's stock after buying an additional 2,644,627 shares during the quarter. TC Energy makes up approximately 1.2% of FIL Ltd's investment portfolio, making the stock its 9th biggest holding. FIL Ltd owned about 2.74% of TC Energy worth $1,325,558,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new position in TC Energy during the 4th quarter worth $31,000. Versant Capital Management Inc purchased a new stake in TC Energy in the 4th quarter worth approximately $33,000. Synergy Investment Management LLC acquired a new stake in TC Energy during the fourth quarter valued at $36,000. Point72 DIFC Ltd purchased a new stake in shares of TC Energy during the 3rd quarter worth about $39,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of TC Energy during the 4th quarter valued at about $41,000. Institutional investors own 83.13% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have commented on TRP. StockNews.com lowered TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. TD Securities assumed coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. Royal Bank of Canada upped their price objective on shares of TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. Finally, Citigroup assumed coverage on shares of TC Energy in a research note on Friday, April 4th. They set a "neutral" rating for the company. One analyst has rated the stock with a sell rating, three have assigned 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $62.00.
View Our Latest Research Report on TRP
TC Energy Price Performance
Shares of NYSE:TRP traded up $2.01 during midday trading on Friday, hitting $47.42. The company had a trading volume of 2,834,721 shares, compared to its average volume of 2,661,920. TC Energy Co. has a twelve month low of $34.95 and a twelve month high of $50.37. The stock has a market cap of $49.28 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74. 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 business's 50-day simple moving average is $46.60 and its 200-day simple moving average is $46.95.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued 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 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 last year, the company earned $1.35 EPS. On average, research analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.
TC Energy Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 7.17%. 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 payout ratio is presently 72.53%.
TC Energy Company 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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