Jennison Associates LLC decreased its stake in shares of TC Energy Co. (NYSE:TRP – Free Report) (TSE:TRP) by 21.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 183,330 shares of the pipeline company’s stock after selling 50,890 shares during the quarter. Jennison Associates LLC’s holdings in TC Energy were worth $7,130,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in TRP. American Century Companies Inc. grew its position in shares of TC Energy by 4.4% in the first quarter. American Century Companies Inc. now owns 27,957 shares of the pipeline company’s stock valued at $1,577,000 after purchasing an additional 1,188 shares during the period. Cetera Advisor Networks LLC grew its position in shares of TC Energy by 6.0% in the first quarter. Cetera Advisor Networks LLC now owns 5,664 shares of the pipeline company’s stock valued at $320,000 after purchasing an additional 323 shares during the period. BlackRock Inc. grew its position in shares of TC Energy by 43.9% in the first quarter. BlackRock Inc. now owns 878,551 shares of the pipeline company’s stock valued at $49,567,000 after purchasing an additional 267,934 shares during the period. Sei Investments Co. grew its position in shares of TC Energy by 40.4% in the first quarter. Sei Investments Co. now owns 110,816 shares of the pipeline company’s stock valued at $6,252,000 after purchasing an additional 31,882 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in TC Energy by 3.1% in the first quarter. Vanguard Group Inc. now owns 33,256,822 shares of the pipeline company’s stock valued at $1,876,349,000 after acquiring an additional 993,965 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.
TC Energy Trading Down 2.0 %
Shares of TRP opened at $39.07 on Friday. The stock’s 50-day moving average is $40.39 and its two-hundred day moving average is $40.67. The stock has a market cap of $40.22 billion, a PE ratio of 31.26, a P/E/G ratio of 3.24 and a beta of 0.85. TC Energy Co. has a 12 month low of $36.79 and a 12 month high of $55.50. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.74 and a quick ratio of 0.67.
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last issued its quarterly earnings data on Friday, April 28th. The pipeline company reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.73 billion. TC Energy had a return on equity of 13.97% and a net margin of 11.35%. Equities analysts forecast that TC Energy Co. will post 3.07 earnings per share for the current fiscal year.
TC Energy Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be paid a dividend of $0.688 per share. This represents a $2.75 dividend on an annualized basis and a dividend yield of 7.04%. The ex-dividend date of this dividend is Thursday, June 29th. TC Energy’s dividend payout ratio is presently 224.80%.
Analysts Set New Price Targets
TRP has been the topic of a number of research analyst reports. StockNews.com initiated coverage on TC Energy in a report on Thursday, May 18th. They issued a “hold” rating on the stock. TheStreet upgraded TC Energy from a “c” rating to a “b-” rating in a report on Friday, April 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, TC Energy presently has an average rating of “Hold” and a consensus target price of $63.06.
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 93,700 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.
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