Capital Research Global Investors Sells 3,441,819 Shares of TC Energy Co. (NYSE:TRP)

Capital Research Global Investors cut its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 6.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,398,845 shares of the pipeline company’s stock after selling 3,441,819 shares during the quarter. Capital Research Global Investors’ holdings in TC Energy were worth $2,348,636,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Barclays PLC lifted its stake in TC Energy by 19.9% in the third quarter. Barclays PLC now owns 528,528 shares of the pipeline company’s stock valued at $25,132,000 after acquiring an additional 87,885 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in TC Energy in the 3rd quarter valued at about $186,000. Centerstone Investors LLC grew its holdings in TC Energy by 3.4% during the third quarter. Centerstone Investors LLC now owns 328,440 shares of the pipeline company’s stock worth $14,550,000 after purchasing an additional 10,890 shares during the period. B. Riley Wealth Advisors Inc. increased its position in TC Energy by 58.0% during the third quarter. B. Riley Wealth Advisors Inc. now owns 8,769 shares of the pipeline company’s stock worth $409,000 after buying an additional 3,218 shares during the last quarter. Finally, Versant Capital Management Inc bought a new stake in TC Energy in the fourth quarter valued at approximately $33,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TRP shares. Royal Bank of Canada raised their price target on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Citigroup assumed coverage on shares of TC Energy in a research note on Friday, April 4th. They issued a “neutral” rating for the company. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, TD Securities began coverage on TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Performance

NYSE:TRP opened at $49.44 on Friday. The firm has a market capitalization of $51.39 billion, a P/E ratio of 15.26, a P/E/G ratio of 4.34 and a beta of 0.74. TC Energy Co. has a twelve month low of $35.30 and a twelve month high of $50.37. The company has a fifty day moving average of $46.78 and a 200-day moving average of $46.99. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the previous year, the firm posted $1.35 earnings per share. As a group, sell-side analysts anticipate that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.85 dividend. The ex-dividend date is Monday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 6.88%. TC Energy’s dividend payout ratio is 72.84%.

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.