TC Energy Corporation $TRP Stock Position Lessened by Swiss National Bank

Swiss National Bank trimmed its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 5.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,990,201 shares of the pipeline company’s stock after selling 168,100 shares during the period. Swiss National Bank’s holdings in TC Energy were worth $162,654,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TRP. Norges Bank acquired a new stake in TC Energy in the second quarter worth about $493,434,000. American Century Companies Inc. increased its stake in TC Energy by 514.5% during the 3rd quarter. American Century Companies Inc. now owns 6,491,799 shares of the pipeline company’s stock valued at $352,976,000 after buying an additional 5,435,310 shares during the period. Public Sector Pension Investment Board raised its position in shares of TC Energy by 2,573.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 2,680,572 shares of the pipeline company’s stock worth $130,600,000 after buying an additional 2,580,300 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in shares of TC Energy during the 2nd quarter worth about $100,398,000. Finally, Nicola Wealth Management LTD. lifted its stake in shares of TC Energy by 793.7% in the 3rd quarter. Nicola Wealth Management LTD. now owns 2,302,996 shares of the pipeline company’s stock worth $125,229,000 after acquiring an additional 2,045,300 shares during the period. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TRP has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a research note on Monday, December 29th. Morgan Stanley restated an “overweight” rating on shares of TC Energy in a research report on Wednesday, January 28th. TD Securities lowered TC Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. The Goldman Sachs Group lifted their price target on TC Energy from $48.00 to $53.00 and gave the company a “sell” rating in a research report on Wednesday, February 18th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of TC Energy in a research note on Monday, February 16th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $72.50.

TC Energy Stock Performance

Shares of TRP opened at $63.31 on Tuesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.63 and a quick ratio of 0.56. The firm’s 50 day moving average is $58.91 and its 200-day moving average is $55.08. TC Energy Corporation has a 12-month low of $43.59 and a 12-month high of $65.57. The stock has a market capitalization of $65.92 billion, a P/E ratio of 27.24 and a beta of 0.72.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.94 billion. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. During the same period in the prior year, the business earned $1.05 earnings per share. Equities research analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a $0.8775 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, March 31st. TC Energy’s dividend payout ratio is currently 106.90%.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.