Greenline Partners LLC Raises Stock Position in TC Energy Co. (NYSE:TRP)

Greenline Partners LLC increased its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 6.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 295,525 shares of the pipeline company’s stock after purchasing an additional 17,643 shares during the period. TC Energy makes up 1.7% of Greenline Partners LLC’s holdings, making the stock its 16th biggest position. Greenline Partners LLC’s holdings in TC Energy were worth $11,100,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Murchinson Ltd. acquired a new stake in TC Energy during the first quarter valued at $506,485,000. Capital Research Global Investors grew its position in TC Energy by 23.7% during the fourth quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company’s stock valued at $2,174,931,000 after buying an additional 10,654,993 shares during the period. Canada Pension Plan Investment Board grew its position in TC Energy by 107.1% during the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after buying an additional 10,065,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in TC Energy by 94.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock valued at $688,534,000 after buying an additional 8,339,800 shares during the period. Finally, Capital International Investors grew its position in TC Energy by 11.8% during the fourth quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock valued at $2,155,419,000 after buying an additional 5,822,056 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TRP. StockNews.com began coverage on shares of TC Energy in a research report on Thursday. They set a “hold” rating on the stock. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research report 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 given a buy rating to the company’s stock. Based on data from MarketBeat, TC Energy presently has an average rating of “Hold” and a consensus target price of $43.50.

TC Energy Stock Up 2.6 %

Shares of NYSE TRP opened at $46.18 on Friday. The company’s 50-day simple moving average is $44.02 and its 200-day simple moving average is $40.37. TC Energy Co. has a 52-week low of $32.51 and a 52-week high of $47.38. The firm has a market cap of $46.18 billion, a price-to-earnings ratio of 23.80, a price-to-earnings-growth ratio of 3.81 and a beta of 0.81. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57.

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

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.702 per share. The ex-dividend date is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a yield of 6.08%. TC Energy’s payout ratio is presently 146.39%.

About TC Energy

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.