TC Energy Co. (NYSE:TRP) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lowered its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 15.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 220,626 shares of the pipeline company’s stock after selling 41,752 shares during the quarter. American Century Companies Inc.’s holdings in TC Energy were worth $8,363,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Research Global Investors grew its position in TC Energy by 2.7% during the 1st quarter. Capital Research Global Investors now owns 57,170,304 shares of the pipeline company’s stock worth $2,297,701,000 after purchasing an additional 1,492,315 shares during the last quarter. Capital International Investors raised its stake in TC Energy by 11.8% in the 4th quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock worth $2,155,419,000 after acquiring an additional 5,822,056 shares during the last quarter. Vanguard Group Inc. lifted its position in TC Energy by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company’s stock worth $1,650,505,000 after acquiring an additional 653,031 shares during the period. Capital World Investors grew its stake in TC Energy by 0.5% during the 4th quarter. Capital World Investors now owns 37,412,046 shares of the pipeline company’s stock valued at $1,461,583,000 after purchasing an additional 181,091 shares during the last quarter. Finally, Bank of Nova Scotia increased its holdings in shares of TC Energy by 13.7% in the fourth quarter. Bank of Nova Scotia now owns 28,980,334 shares of the pipeline company’s stock valued at $1,132,854,000 after purchasing an additional 3,497,666 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Up 2.0 %

Shares of TC Energy stock opened at $47.11 on Tuesday. TC Energy Co. has a fifty-two week low of $32.51 and a fifty-two week high of $47.38. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The company has a market cap of $47.11 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 3.81 and a beta of 0.81. The firm has a 50-day simple moving average of $44.18 and a two-hundred day simple moving average of $40.42.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.65 by $0.29. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same period last year, the company earned $0.71 earnings per share. As a group, equities analysts predict that TC Energy Co. will post 3.06 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a $0.702 dividend. This represents a $2.81 annualized dividend and a yield of 5.96%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s payout ratio is presently 146.39%.

Analyst Ratings Changes

TRP has been the subject of a number of research reports. StockNews.com initiated coverage on TC Energy in a report on Thursday, September 19th. They set a “hold” rating for the company. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $43.50.

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.