Russell Investments Group Ltd. Grows Position in TC Energy Co. (NYSE:TRP)

Russell Investments Group Ltd. lifted its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,262,444 shares of the pipeline company’s stock after buying an additional 3,801 shares during the period. Russell Investments Group Ltd.’s holdings in TC Energy were worth $50,785,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital Research Global Investors raised its holdings in TC Energy by 23.7% in the 4th quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company’s stock valued at $2,174,931,000 after acquiring an additional 10,654,993 shares during the last quarter. Capital International Investors lifted its position in TC Energy by 11.8% during the fourth quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock worth $2,155,419,000 after buying an additional 5,822,056 shares in the last quarter. Vanguard Group Inc. boosted its stake in TC Energy by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 40,404,299 shares of the pipeline company’s stock worth $1,579,404,000 after buying an additional 778,359 shares during the last quarter. Capital World Investors boosted its stake in TC Energy by 0.5% during the fourth quarter. Capital World Investors now owns 37,412,046 shares of the pipeline company’s stock worth $1,461,583,000 after buying an additional 181,091 shares during the last quarter. Finally, Bank of Nova Scotia grew its holdings in TC Energy by 13.7% in the 4th quarter. Bank of Nova Scotia now owns 28,980,334 shares of the pipeline company’s stock valued at $1,132,854,000 after buying an additional 3,497,666 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Trading Up 1.2 %

Shares of TRP stock traded up $0.48 during trading hours on Wednesday, hitting $40.41. The company had a trading volume of 662,131 shares, compared to its average volume of 3,042,285. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.94 and a quick ratio of 0.85. The stock has a market capitalization of $40.41 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 3.25 and a beta of 0.79. The company’s fifty day moving average is $38.57 and its 200 day moving average is $38.66. TC Energy Co. has a fifty-two week low of $32.51 and a fifty-two week high of $41.03.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.12 billion. TC Energy had a return on equity of 17.94% and a net margin of 17.23%. Research analysts expect that TC Energy Co. will post 3.01 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 7.03%. The ex-dividend date is Friday, June 28th. TC Energy’s dividend payout ratio is currently 144.85%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TRP shares. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday. TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $48.83.

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.