2,636 Shares in TC Energy Co. (NYSE:TRP) Acquired by Bank & Trust Co

Bank & Trust Co purchased a new position in TC Energy Co. (NYSE:TRP) (TSE:TRP) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,636 shares of the pipeline company’s stock, valued at approximately $124,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of TC Energy by 1.7% in the fourth 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 in the last quarter. FIL Ltd increased its holdings in 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 acquiring an additional 2,644,627 shares during the last quarter. TD Asset Management Inc. lifted its stake in TC Energy by 2.1% in the 4th quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company’s stock worth $765,627,000 after purchasing an additional 344,485 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of TC Energy by 9.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company’s stock valued at $686,763,000 after purchasing an additional 1,280,000 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of TC Energy during the fourth quarter valued at about $428,759,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

Shares of TC Energy stock opened at $51.39 on Tuesday. The stock has a market cap of $53.43 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The stock has a 50 day moving average price of $48.89 and a 200-day moving average price of $47.62. TC Energy Co. has a one year low of $37.07 and a one year high of $51.46.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the previous year, the firm earned $1.02 earnings per share. Equities analysts expect that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a dividend of $0.6142 per share. The ex-dividend date is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.78%. TC Energy’s dividend payout ratio is presently 77.89%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Royal Bank of Canada boosted their target price on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. CIBC raised shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Friday, May 2nd. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, 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. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Company 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.