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

Greenline Partners LLC raised its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.5% during the 4th quarter, Holdings Channel reports. The firm owned 301,225 shares of the pipeline company’s stock after buying an additional 4,363 shares during the quarter. TC Energy comprises 2.0% of Greenline Partners LLC’s portfolio, making the stock its 12th largest holding. Greenline Partners LLC’s holdings in TC Energy were worth $14,016,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on TRP shares. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Royal Bank of Canada lifted their price target 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. StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Cibc World Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 2nd. Finally, Citigroup assumed coverage on shares of TC Energy in a research note on Friday, April 4th. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, TC Energy presently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Trading Up 0.7 %

TRP opened at $49.35 on Friday. The firm has a market capitalization of $51.31 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78. The company’s 50 day simple moving average is $48.12 and its two-hundred day simple moving average is $47.39. TC Energy Co. has a 1-year low of $37.07 and a 1-year high of $51.34. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.04). The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period last year, the business earned $1.02 earnings per share. Analysts expect that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.6142 per share. This represents a $2.46 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Monday, June 30th. TC Energy’s dividend payout ratio (DPR) is presently 77.89%.

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.