Swiss National Bank Increases Stock Holdings in TC Energy Co. (NYSE:TRP)

Swiss National Bank increased its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,137,901 shares of the pipeline company’s stock after purchasing an additional 24,800 shares during the period. Swiss National Bank’s holdings in TC Energy were worth $149,401,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Capital Research Global Investors increased its position in shares of TC Energy by 2.7% in the first quarter. Capital Research Global Investors now owns 57,170,304 shares of the pipeline company’s stock worth $2,297,701,000 after purchasing an additional 1,492,315 shares during the last quarter. Vanguard Group Inc. increased its position in shares of TC Energy by 1.6% in the first quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company’s stock worth $1,650,505,000 after purchasing an additional 653,031 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of TC Energy by 107.1% in the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock worth $737,609,000 after purchasing an additional 10,065,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of TC Energy by 94.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock worth $688,534,000 after purchasing an additional 8,339,800 shares during the last quarter. Finally, Murchinson Ltd. bought a new position in shares of TC Energy in the first quarter worth approximately $506,485,000. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TRP has been the topic of several research analyst reports. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. StockNews.com started coverage on shares of TC Energy in a research report on Saturday, October 5th. They set a “hold” rating on the stock. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Finally, The Goldman Sachs Group increased their price target on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $48.50.

TC Energy Stock Up 0.3 %

Shares of TC Energy stock opened at $48.99 on Monday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.22. The stock has a market capitalization of $50.84 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 4.12 and a beta of 0.81. The company’s 50 day moving average price is $46.87 and its 200-day moving average price is $42.83.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. Equities research analysts forecast that TC Energy Co. will post 2.98 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.822 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.71%. TC Energy’s dividend payout ratio (DPR) is presently 78.95%.

TC Energy Company 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.