TC Energy Co. (NYSE:TRP) Shares Sold by Capital Group International Inc. CA

Capital Group International Inc. CA reduced its stake in TC Energy Co. (NYSE:TRPGet Rating) (TSE:TRP) by 26.0% 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 171,557 shares of the pipeline company’s stock after selling 60,141 shares during the period. Capital Group International Inc. CA’s holdings in TC Energy were worth $9,679,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital Research Global Investors raised its stake in TC Energy by 6.5% in the fourth quarter. Capital Research Global Investors now owns 39,679,860 shares of the pipeline company’s stock valued at $1,845,421,000 after buying an additional 2,435,667 shares in the last quarter. Capital World Investors raised its stake in TC Energy by 53.1% in the fourth quarter. Capital World Investors now owns 33,967,849 shares of the pipeline company’s stock valued at $1,579,861,000 after buying an additional 11,784,737 shares in the last quarter. Capital International Investors raised its stake in TC Energy by 14.0% in the fourth quarter. Capital International Investors now owns 33,803,122 shares of the pipeline company’s stock valued at $1,572,565,000 after buying an additional 4,155,520 shares in the last quarter. Vanguard Group Inc. increased its position in shares of TC Energy by 3.1% during the first quarter. Vanguard Group Inc. now owns 33,256,822 shares of the pipeline company’s stock worth $1,876,349,000 after purchasing an additional 993,965 shares in the last quarter. Finally, Bank of Nova Scotia increased its position in shares of TC Energy by 32.9% during the first quarter. Bank of Nova Scotia now owns 22,350,592 shares of the pipeline company’s stock worth $1,260,463,000 after purchasing an additional 5,528,468 shares in the last quarter. 70.14% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Price Performance

TRP stock opened at $48.45 on Thursday. The firm has a 50 day moving average of $50.68 and a 200-day moving average of $53.89. TC Energy Co. has a 12-month low of $44.77 and a 12-month high of $59.38. The company has a current ratio of 0.64, a quick ratio of 0.57 and a debt-to-equity ratio of 1.65. The company has a market cap of $49.03 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 3.77 and a beta of 0.73.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a dividend of $0.699 per share. The ex-dividend date is Thursday, September 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 5.77%. TC Energy’s payout ratio is 110.28%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. US Capital Advisors reiterated a “hold” rating on shares of TC Energy in a research report on Wednesday, June 1st. TD Securities lifted their target price on TC Energy from C$75.00 to C$76.00 in a research report on Thursday, August 11th. BMO Capital Markets lowered their price target on TC Energy from C$76.00 to C$72.00 in a report on Thursday, August 11th. Barclays lowered their price target on TC Energy from C$71.00 to C$67.00 in a report on Wednesday, July 20th. Finally, Royal Bank of Canada lowered their price target on TC Energy from C$79.00 to C$78.00 in a report on Tuesday, August 2nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $68.83.

TC Energy Company Profile

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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 Storage. The company builds and operates 93,300 km network 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.

See Also

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

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