TC Energy Co. (NYSE:TRP) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,404,299 shares of the pipeline company’s stock after buying an additional 778,359 shares during the quarter. Vanguard Group Inc. owned approximately 4.04% of TC Energy worth $1,579,404,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Creekmur Asset Management LLC acquired a new position in shares of TC Energy in the fourth quarter worth about $27,000. Virtu Financial LLC acquired a new position in TC Energy in the 4th quarter worth about $811,000. Sunpointe LLC acquired a new position in TC Energy in the 4th quarter worth about $235,000. FIL Ltd boosted its position in TC Energy by 37.2% during the fourth quarter. FIL Ltd now owns 16,706,812 shares of the pipeline company’s stock worth $652,613,000 after purchasing an additional 4,528,555 shares in the last quarter. Finally, Clear Street Markets LLC acquired a new stake in TC Energy in the fourth quarter valued at approximately $454,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TRP shares. Jefferies Financial Group assumed coverage on TC Energy in a research report on Tuesday, February 27th. They set a “hold” rating on the stock. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TC Energy has an average rating of “Hold” and a consensus price target of $48.83.

TC Energy Stock Down 0.2 %

Shares of NYSE TRP opened at $38.11 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 1.64. The company has a 50-day moving average of $37.71 and a 200 day moving average of $38.74. TC Energy Co. has a 12-month low of $32.51 and a 12-month high of $41.03. The stock has a market cap of $38.11 billion, a PE ratio of 19.64, a P/E/G ratio of 3.18 and a beta of 0.79.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. TC Energy had a return on equity of 17.94% and a net margin of 17.23%. The firm had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.12 billion. As a group, sell-side analysts predict that TC Energy Co. will post 3 EPS for the current fiscal year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.84 annualized dividend and a dividend yield of 7.45%. TC Energy’s dividend payout ratio (DPR) is 145.88%.

TC Energy 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.