Vanguard Group Inc. Raises Holdings in TC Energy Co. (NYSE:TRP)

Vanguard Group Inc. boosted its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,057,330 shares of the pipeline company’s stock after purchasing an additional 653,031 shares during the quarter. Vanguard Group Inc. owned about 4.11% of TC Energy worth $1,650,505,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. New Hampshire Trust raised its stake in shares of TC Energy by 3.8% in the first quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock valued at $292,000 after acquiring an additional 269 shares during the period. Glassman Wealth Services boosted its position in TC Energy by 61.0% during the 4th quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 275 shares in the last quarter. Wealthspire Advisors LLC boosted its position in TC Energy by 2.1% during the fourth quarter. Wealthspire Advisors LLC now owns 14,383 shares of the pipeline company’s stock valued at $562,000 after purchasing an additional 300 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of TC Energy by 25.8% in the 4th quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock worth $58,000 after buying an additional 304 shares during the last quarter. Finally, Wealth Alliance grew its holdings in TC Energy by 1.4% in the fourth quarter. Wealth Alliance now owns 22,531 shares of the pipeline company’s stock worth $881,000 after purchasing an additional 304 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, TC Energy presently has an average rating of “Hold” and an average target price of $48.83.

TC Energy Stock Performance

Shares of TRP traded up $0.57 during trading hours on Monday, hitting $41.66. The stock had a trading volume of 883,762 shares, compared to its average volume of 3,037,953. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.85 and a current ratio of 0.94. TC Energy Co. has a fifty-two week low of $32.51 and a fifty-two week high of $41.69. The firm has a 50-day moving average price of $38.71 and a 200 day moving average price of $38.69. The firm has a market capitalization of $41.66 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 3.39 and a beta of 0.79.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.12 billion. As a group, research analysts anticipate that TC Energy Co. will post 3.03 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, June 28th. This represents a $2.84 annualized dividend and a yield of 6.82%. TC Energy’s dividend payout ratio (DPR) is presently 144.85%.

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.