TC Energy Corporation $TRP Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lessened its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 21.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,807 shares of the pipeline company’s stock after selling 8,983 shares during the quarter. Royal London Asset Management Ltd.’s holdings in TC Energy were worth $2,241,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of TC Energy in the fourth quarter valued at approximately $25,000. Sterling Capital Management LLC acquired a new position in shares of TC Energy in the 1st quarter valued at $26,000. McIlrath & Eck LLC acquired a new position in shares of TC Energy in the 4th quarter valued at $32,000. Trust Co. of Vermont purchased a new stake in TC Energy in the 2nd quarter valued at $33,000. Finally, SWAN Capital LLC purchased a new stake in TC Energy in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of TC Energy from a “hold” rating to a “buy” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TC Energy in a report on Friday, July 31st. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. Finally, Morgan Stanley cut TC Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

TC Energy Price Performance

Shares of NYSE:TRP opened at $63.18 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. The company has a market cap of $65.83 billion, a P/E ratio of 26.22 and a beta of 0.66. TC Energy Corporation has a 52 week low of $49.27 and a 52 week high of $71.47. The company has a 50-day moving average price of $66.09 and a 200 day moving average price of $65.41.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.07. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.During the same quarter in the previous year, the firm posted $0.82 EPS. Research analysts predict that TC Energy Corporation will post 2.78 earnings per share for the current year.

TC Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be paid a $0.8775 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. TC Energy’s payout ratio is 102.49%.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.