Swiss National Bank Has $140.30 Million Position in TC Energy Co. (NYSE:TRP)

Swiss National Bank lessened its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 4.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,012,001 shares of the pipeline company’s stock after selling 125,900 shares during the quarter. Swiss National Bank’s holdings in TC Energy were worth $140,301,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of TC Energy by 6.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,175,940 shares of the pipeline company’s stock worth $333,993,000 after acquiring an additional 405,965 shares in the last quarter. CIBC Asset Management Inc grew its position in TC Energy by 8.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company’s stock valued at $331,863,000 after purchasing an additional 551,980 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its stake in TC Energy by 51.4% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company’s stock valued at $225,310,000 after buying an additional 1,644,115 shares during the last quarter. Geode Capital Management LLC lifted its position in TC Energy by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock worth $225,890,000 after buying an additional 360,548 shares in the last quarter. Finally, Merewether Investment Management LP lifted its position in TC Energy by 37.9% during the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock worth $194,776,000 after buying an additional 1,127,000 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

TRP has been the topic of a number of recent research reports. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Royal Bank of Canada boosted their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. BMO Capital Markets upped their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Finally, StockNews.com downgraded TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Trading Up 0.1 %

Shares of TRP stock opened at $46.65 on Friday. TC Energy Co. has a 12-month low of $34.95 and a 12-month high of $50.37. The company has a market capitalization of $48.47 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The firm has a 50 day moving average price of $46.26 and a two-hundred day moving average price of $46.77. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 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 firm posted $1.35 EPS. As a group, analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a yield of 7.29%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is currently 72.53%.

TC Energy 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.