UniSuper Management Pty Ltd Sells 3,800 Shares of TC Energy Co. (NYSE:TRP)

UniSuper Management Pty Ltd decreased its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 16.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,900 shares of the pipeline company’s stock after selling 3,800 shares during the period. UniSuper Management Pty Ltd’s holdings in TC Energy were worth $926,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Korea Investment CORP boosted its stake in shares of TC Energy by 108.5% in the 4th quarter. Korea Investment CORP now owns 625,606 shares of the pipeline company’s stock worth $29,140,000 after buying an additional 325,627 shares during the last quarter. Mufg Securities Canada LTD. boosted its position in TC Energy by 571.7% in the fourth quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company’s stock worth $288,043,000 after purchasing an additional 5,264,079 shares during the last quarter. Zions Bancorporation N.A. grew its stake in shares of TC Energy by 13.0% during the 4th quarter. Zions Bancorporation N.A. now owns 167,150 shares of the pipeline company’s stock valued at $7,777,000 after purchasing an additional 19,223 shares during the period. TD Asset Management Inc. lifted its stake in shares of TC Energy by 2.1% in the 4th quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company’s stock worth $765,627,000 after purchasing an additional 344,485 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of TC Energy by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company’s stock worth $2,035,952,000 after buying an additional 734,678 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Down 1.8 %

TRP stock opened at $47.17 on Tuesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. TC Energy Co. has a 1-year low of $34.95 and a 1-year high of $50.37. The business has a 50 day simple moving average of $46.53 and a two-hundred day simple moving average of $46.96. The company has a market capitalization of $49.02 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter in the prior year, the business earned $1.35 earnings per share. Research analysts anticipate that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.85 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a yield of 7.21%. TC Energy’s payout ratio is presently 72.53%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. TD Securities began coverage on TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada raised their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Company 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.