American Century Companies Inc. Grows Stake in TC Energy Corporation $TRP

American Century Companies Inc. lifted its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 321.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,056,489 shares of the pipeline company’s stock after buying an additional 805,619 shares during the quarter. American Century Companies Inc. owned about 0.10% of TC Energy worth $51,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TRP. Vanguard Group Inc. increased its position in TC Energy by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 45,907,306 shares of the pipeline company’s stock valued at $2,241,195,000 after buying an additional 1,509,328 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in TC Energy by 34.2% in the first quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock worth $935,627,000 after purchasing an additional 5,053,228 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of TC Energy by 9.3% in the second quarter. TD Asset Management Inc now owns 19,074,181 shares of the pipeline company’s stock worth $929,316,000 after acquiring an additional 1,618,441 shares during the period. Bank of Nova Scotia grew its stake in shares of TC Energy by 80.3% during the 1st quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock valued at $802,164,000 after purchasing an additional 7,562,887 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in TC Energy by 2,565.1% during the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock valued at $769,815,000 after buying an additional 15,694,336 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Performance

TRP opened at $54.02 on Friday. The company has a market cap of $56.22 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 4.82 and a beta of 0.73. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. TC Energy Corporation has a 52-week low of $43.51 and a 52-week high of $55.37. The firm’s 50-day moving average price is $52.77 and its 200-day moving average price is $50.70.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.56. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $2.63 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same period in the prior year, the firm earned $1.03 EPS. As a group, equities analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a dividend of $0.85 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Wednesday, December 31st. TC Energy’s payout ratio is presently 103.88%.

Analyst Upgrades and Downgrades

TRP has been the topic of several analyst reports. TD Securities reaffirmed a “buy” rating on shares of TC Energy in a report on Friday, October 17th. Wall Street Zen downgraded shares of TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research report on Monday, October 20th. Cibc World Mkts lowered TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, Royal Bank Of Canada boosted their price objective on shares of TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

TC Energy 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.