Capital International Inc. CA Sells 19,927 Shares of TC Energy Co. (NYSE:TRP)

Capital International Inc. CA cut its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 446,627 shares of the pipeline company’s stock after selling 19,927 shares during the period. Capital International Inc. CA’s holdings in TC Energy were worth $20,804,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TRP. Vanguard Group Inc. raised its holdings in shares of TC Energy by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company’s stock worth $2,035,952,000 after acquiring an additional 734,678 shares in the last quarter. FIL Ltd raised its stake in TC Energy by 10.3% during the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company’s stock valued at $1,325,558,000 after purchasing an additional 2,644,627 shares in the last quarter. TD Asset Management Inc. lifted its position in TC Energy by 2.1% during the fourth quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company’s stock valued at $765,627,000 after purchasing an additional 344,485 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of TC Energy by 9.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company’s stock worth $686,763,000 after buying an additional 1,280,000 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of TC Energy in the 4th quarter worth about $428,759,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

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

TC Energy Stock Performance

Shares of TC Energy stock opened at $49.44 on Friday. TC Energy Co. has a 52 week low of $35.38 and a 52 week high of $50.37. The company has a market capitalization of $51.39 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74. The stock’s fifty day moving average is $46.78 and its two-hundred day moving average is $47.01. 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 EPS for the quarter, topping the consensus estimate of $0.51 by $0.54. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter last year, the firm posted $1.35 EPS. As a group, analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

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

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.