Goldman Sachs Group Inc. Has $726.46 Million Stake in TC Energy Corporation $TRP

Goldman Sachs Group Inc. decreased its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 79.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 13,205,999 shares of the pipeline company’s stock after selling 51,837,260 shares during the period. Goldman Sachs Group Inc.’s holdings in TC Energy were worth $726,462,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TRP. Norges Bank acquired a new position in shares of TC Energy during the 4th quarter valued at about $583,732,000. American Century Companies Inc. increased its holdings in shares of 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 acquiring an additional 5,435,310 shares during the last quarter. BROOKFIELD Corp ON acquired a new position in shares of TC Energy during the 2nd quarter valued at about $78,443,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of TC Energy by 32.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,496,410 shares of the pipeline company’s stock valued at $244,650,000 after acquiring an additional 1,109,897 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of TC Energy by 2.5% during the 3rd quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock valued at $2,282,469,000 after acquiring an additional 1,041,864 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group raised TC Energy from a “sell” rating to a “neutral” rating and increased their price objective for the company from $53.00 to $62.00 in a report on Monday, April 20th. Barclays reissued an “overweight” rating on shares of TC Energy in a report on Monday, May 4th. Weiss Ratings lowered TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 4th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. Finally, Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Price Performance

Shares of NYSE:TRP opened at $67.83 on Thursday. TC Energy Corporation has a 1-year low of $46.29 and a 1-year high of $71.47. The firm has a market capitalization of $67.83 billion, a PE ratio of 29.44 and a beta of 0.66. The business’s 50 day moving average is $64.91 and its 200-day moving average is $60.37. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the firm earned $0.95 EPS. Sell-side analysts predict that TC Energy Corporation will post 2.75 earnings per share for the current year.

TC Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s dividend payout ratio (DPR) is presently 109.57%.

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.