TC Energy Corporation $TRP Stock Position Reduced by Legal & General Group Plc

Legal & General Group Plc cut its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 1.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,120,442 shares of the pipeline company’s stock after selling 134,990 shares during the period. Legal & General Group Plc’s holdings in TC Energy were worth $502,874,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Vermont purchased a new position in TC Energy during the fourth quarter valued at approximately $28,000. McIlrath & Eck LLC purchased a new position in TC Energy during the fourth quarter valued at approximately $32,000. Westside Investment Management Inc. grew its position in TC Energy by 100.0% during the third quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 297 shares in the last quarter. SWAN Capital LLC purchased a new position in TC Energy during the third quarter valued at approximately $40,000. Finally, Smartleaf Asset Management LLC grew its position in TC Energy by 237.4% during the third quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 565 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

NYSE TRP opened at $70.82 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $70.82 billion, a PE ratio of 30.74 and a beta of 0.67. The company has a 50 day moving average price of $64.38 and a two-hundred day moving average price of $59.63. TC Energy Corporation has a 12-month low of $46.29 and a 12-month high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same period in the previous year, the company earned $0.95 earnings per share. As a group, equities analysts predict that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a $0.8775 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a yield of 5.0%. TC Energy’s payout ratio is 109.57%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TRP. Wall Street Zen raised shares of TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. National Bank Financial raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Royal Bank Of Canada boosted their price objective on shares of TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. TD Securities reaffirmed a “hold” rating on shares of TC Energy in a research report on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce upgraded shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.50.

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.