Dimensional Fund Advisors LP Sells 122,927 Shares of TC Energy Corporation $TRP

Dimensional Fund Advisors LP lowered its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,337,352 shares of the pipeline company’s stock after selling 122,927 shares during the quarter. Dimensional Fund Advisors LP owned 0.22% of TC Energy worth $127,139,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TRP. Campbell & CO Investment Adviser LLC purchased a new stake in TC Energy during the third quarter valued at about $1,391,000. Advisors Asset Management Inc. boosted its holdings in shares of TC Energy by 38.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 88,140 shares of the pipeline company’s stock worth $4,796,000 after purchasing an additional 24,617 shares in the last quarter. Norges Bank bought a new position in shares of TC Energy during the 2nd quarter valued at about $493,434,000. Citigroup Inc. increased its position in shares of TC Energy by 19.2% during the 3rd quarter. Citigroup Inc. now owns 378,086 shares of the pipeline company’s stock valued at $20,562,000 after purchasing an additional 61,013 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of TC Energy by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company’s stock valued at $2,545,777,000 after buying an additional 914,168 shares in the last quarter. 83.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research note on Friday, February 20th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research note on Tuesday, February 17th. The Goldman Sachs Group boosted their price objective on shares of TC Energy from $48.00 to $53.00 and gave the stock a “sell” rating in a report on Wednesday, February 18th. Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a report on Thursday, February 19th. Finally, National Bank Financial cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $72.50.

TC Energy Trading Down 0.8%

NYSE TRP opened at $63.14 on Thursday. TC Energy Corporation has a fifty-two week low of $43.59 and a fifty-two week high of $65.57. 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 stock has a 50 day simple moving average of $59.22 and a two-hundred day simple moving average of $55.23. The stock has a market cap of $65.74 billion, a P/E ratio of 27.17 and a beta of 0.72.

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

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.8775 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Tuesday, March 31st. TC Energy’s dividend payout ratio is presently 110.78%.

About TC Energy

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.