TC Energy Corporation $TRP Shares Purchased by American Century Companies Inc.

American Century Companies Inc. boosted its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 514.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 6,491,799 shares of the pipeline company’s stock after acquiring an additional 5,435,310 shares during the quarter. American Century Companies Inc. owned about 0.62% of TC Energy worth $352,976,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pacifica Partners Inc. raised its stake in shares of TC Energy by 14.0% in the third quarter. Pacifica Partners Inc. now owns 1,625 shares of the pipeline company’s stock worth $87,000 after purchasing an additional 200 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its position in TC Energy by 2.0% in the third quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock valued at $544,000 after buying an additional 200 shares during the last quarter. Kingswood Wealth Advisors LLC increased its holdings in TC Energy by 2.8% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock worth $399,000 after buying an additional 202 shares during the period. Checchi Capital Advisers LLC raised its position in TC Energy by 3.4% during the 3rd quarter. Checchi Capital Advisers LLC now owns 6,171 shares of the pipeline company’s stock worth $336,000 after buying an additional 204 shares during the last quarter. Finally, Ewing Morris & Co. Investment Partners Ltd. raised its position in TC Energy by 0.6% during the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 37,962 shares of the pipeline company’s stock worth $1,873,000 after buying an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

TRP has been the topic of several recent research reports. Royal Bank Of Canada upped their price objective on shares of TC Energy from $84.00 to $92.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Scotiabank restated an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a report on Friday, February 20th. National Bank Financial lowered TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Raymond James Financial raised TC Energy to a “hold” rating in a report on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $72.50.

TC Energy Stock Up 2.1%

NYSE TRP opened at $64.38 on Friday. The business has a fifty day moving average price of $57.89 and a 200 day moving average price of $54.48. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63. The company has a market cap of $67.03 billion, a P/E ratio of 27.70 and a beta of 0.73. TC Energy Corporation has a one year low of $43.59 and a one year high of $64.92.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.94 billion. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. During the same quarter in the prior year, the firm earned $1.05 earnings per share. Research analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Tuesday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.85. TC Energy’s payout ratio is currently 106.90%.

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.