TC Energy Co. (NYSE:TRP) Shares Purchased by Neuberger Berman Group LLC

Neuberger Berman Group LLC raised its holdings in shares of TC Energy Co. (NYSE:TRPGet Rating) (TSE:TRP) by 17.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,202,297 shares of the pipeline company’s stock after purchasing an additional 182,724 shares during the quarter. Neuberger Berman Group LLC owned 0.12% of TC Energy worth $68,030,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TRP. BNP Paribas Arbitrage SA grew its stake in TC Energy by 24,616.3% during the 4th quarter. BNP Paribas Arbitrage SA now owns 10,628 shares of the pipeline company’s stock valued at $495,000 after purchasing an additional 10,585 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in TC Energy during the 4th quarter worth approximately $1,476,000. Candriam Luxembourg S.C.A. lifted its holdings in TC Energy by 2.4% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 21,122 shares of the pipeline company’s stock worth $984,000 after buying an additional 489 shares during the last quarter. Geode Capital Management LLC lifted its holdings in TC Energy by 6.4% during the 4th quarter. Geode Capital Management LLC now owns 2,721,997 shares of the pipeline company’s stock worth $126,574,000 after buying an additional 164,774 shares during the last quarter. Finally, Alberta Investment Management Corp lifted its holdings in TC Energy by 38.7% during the 4th quarter. Alberta Investment Management Corp now owns 4,492,815 shares of the pipeline company’s stock worth $209,249,000 after buying an additional 1,252,473 shares during the last quarter. Institutional investors and hedge funds own 70.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on TRP shares. TD Securities increased their target price on TC Energy from C$75.00 to C$76.00 in a report on Thursday, August 11th. Royal Bank of Canada reduced their target price on TC Energy from C$79.00 to C$78.00 in a report on Tuesday, August 2nd. BMO Capital Markets cut their price target on TC Energy from C$76.00 to C$72.00 in a report on Thursday, August 11th. Scotiabank cut their price target on TC Energy from C$78.00 to C$76.00 in a report on Friday, July 29th. Finally, US Capital Advisors reissued a “hold” rating on shares of TC Energy in a report on Wednesday, June 1st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $68.83.

TC Energy Stock Down 1.6 %

Shares of TRP stock opened at $46.99 on Friday. TC Energy Co. has a 1 year low of $44.77 and a 1 year high of $59.38. The stock has a market cap of $47.55 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 3.71 and a beta of 0.73. The business’s fifty day moving average is $50.46 and its 200-day moving average is $53.77. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.57 and a current ratio of 0.64.

TC Energy Cuts Dividend

The company 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. This represents a $2.80 annualized dividend and a dividend yield of 5.95%. The ex-dividend date of this dividend is Thursday, September 29th. TC Energy’s dividend payout ratio (DPR) is presently 110.28%.

About TC Energy

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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.

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

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