Gold Investment Management Ltd. Raises Holdings in TC Energy Co. (NYSE:TRP)

Gold Investment Management Ltd. increased its position in shares of TC Energy Co. (NYSE:TRPFree Report) (TSE:TRP) by 4.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,230 shares of the pipeline company’s stock after purchasing an additional 403 shares during the quarter. Gold Investment Management Ltd.’s holdings in TC Energy were worth $371,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TRP. Capital Research Global Investors raised its stake in shares of TC Energy by 23.7% during the 4th quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company’s stock worth $2,174,931,000 after buying an additional 10,654,993 shares during the period. Norges Bank acquired a new position in TC Energy during the 4th quarter worth about $341,262,000. Mufg Securities Canada LTD. acquired a new position in TC Energy during the 4th quarter worth about $235,580,000. Capital International Investors lifted its stake in TC Energy by 11.8% during the 4th quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock worth $2,155,419,000 after acquiring an additional 5,822,056 shares in the last quarter. Finally, FIL Ltd raised its position in TC Energy by 37.2% in the 4th quarter. FIL Ltd now owns 16,706,812 shares of the pipeline company’s stock valued at $652,613,000 after purchasing an additional 4,528,555 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Ratings Changes

Separately, TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $48.83.

View Our Latest Report on TRP

TC Energy Price Performance

Shares of NYSE:TRP traded up $0.97 on Wednesday, reaching $38.46. 1,819,043 shares of the company traded hands, compared to its average volume of 3,067,101. TC Energy Co. has a fifty-two week low of $32.51 and a fifty-two week high of $41.03. The company’s 50 day moving average is $38.41 and its 200-day moving average is $38.69. The stock has a market capitalization of $38.46 billion, a PE ratio of 19.82, a P/E/G ratio of 3.11 and a beta of 0.79. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.94 and a quick ratio of 0.85.

TC Energy (NYSE:TRPGet Free Report) (TSE:TRP) last posted its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that TC Energy Co. will post 3.01 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 7.38%. The ex-dividend date is Friday, June 28th. TC Energy’s payout ratio is 144.85%.

TC Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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