TC Energy Co. (NYSE:TRP) Shares Purchased by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd raised its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 54.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 288,221 shares of the pipeline company’s stock after acquiring an additional 101,305 shares during the period. TC Energy makes up 4.0% of Ausbil Investment Management Ltd’s holdings, making the stock its 5th largest position. Ausbil Investment Management Ltd’s holdings in TC Energy were worth $13,716,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. EdgeRock Capital LLC acquired a new position in TC Energy in the second quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of TC Energy by 138.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 429 shares during the period. Blue Trust Inc. boosted its stake in TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 267 shares during the last quarter. Mather Group LLC. acquired a new position in TC Energy during the second quarter valued at approximately $33,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in TC Energy in the second quarter valued at approximately $51,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Ratings Changes

TRP has been the subject of several research analyst reports. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. StockNews.com started coverage on TC Energy in a report on Saturday, October 5th. They issued a “hold” rating for the company. Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. The Goldman Sachs Group boosted their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday. Finally, Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $48.50.

TC Energy Stock Up 0.2 %

TRP traded up $0.08 during trading hours on Thursday, hitting $47.04. 197,316 shares of the company’s stock were exchanged, compared to its average volume of 3,186,931. The stock has a market cap of $48.82 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 3.92 and a beta of 0.81. TC Energy Co. has a 1-year low of $30.61 and a 1-year high of $48.25. The stock’s 50-day moving average is $46.08 and its two-hundred day moving average is $41.40. 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 released its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the previous year, the business earned $0.71 earnings per share. Sell-side analysts predict that TC Energy Co. will post 3.02 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a $0.702 dividend. This represents a $2.81 annualized dividend and a dividend yield of 5.97%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s payout ratio is presently 116.80%.

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.