TC Energy Co. (NYSE:TRP) Shares Acquired by NuWave Investment Management LLC

NuWave Investment Management LLC lifted its stake in shares of TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP) by 24.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,422 shares of the pipeline company’s stock after buying an additional 666 shares during the quarter. NuWave Investment Management LLC’s holdings in TC Energy were worth $193,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors grew its position in shares of TC Energy by 6.5% during the fourth quarter. Capital Research Global Investors now owns 39,679,860 shares of the pipeline company’s stock worth $1,845,421,000 after buying an additional 2,435,667 shares in the last quarter. Capital World Investors boosted its holdings in TC Energy by 53.1% in the fourth quarter. Capital World Investors now owns 33,967,849 shares of the pipeline company’s stock valued at $1,579,861,000 after purchasing an additional 11,784,737 shares in the last quarter. Capital International Investors boosted its holdings in TC Energy by 14.0% in the fourth quarter. Capital International Investors now owns 33,803,122 shares of the pipeline company’s stock valued at $1,572,565,000 after purchasing an additional 4,155,520 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in TC Energy by 1.5% in the fourth quarter. Mackenzie Financial Corp now owns 16,536,596 shares of the pipeline company’s stock valued at $769,111,000 after purchasing an additional 241,965 shares in the last quarter. Finally, Mufg Securities Canada LTD. boosted its holdings in TC Energy by 13.4% in the fourth quarter. Mufg Securities Canada LTD. now owns 12,273,140 shares of the pipeline company’s stock valued at $571,413,000 after purchasing an additional 1,450,158 shares in the last quarter. 70.11% of the stock is owned by institutional investors and hedge funds.

TC Energy stock opened at $51.40 on Thursday. TC Energy Co. has a 12 month low of $44.77 and a 12 month high of $59.38. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.61 and a quick ratio of 0.54. The business has a 50 day simple moving average of $55.84 and a 200-day simple moving average of $53.19. The stock has a market capitalization of $50.55 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 3.74 and a beta of 0.71.

TC Energy (NYSE:TRP – Get Rating) (TSE:TRP) last released its quarterly earnings results on Friday, April 29th. The pipeline company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01). TC Energy had a return on equity of 14.61% and a net margin of 24.96%. The company had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter last year, the company earned $0.89 EPS. TC Energy’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that TC Energy Co. will post 3.35 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Thursday, June 30th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 5.60%. The ex-dividend date is Wednesday, June 29th. This is a boost from TC Energy’s previous quarterly dividend of $0.71. TC Energy’s dividend payout ratio is 109.51%.

A number of equities analysts recently issued reports on TRP shares. Morgan Stanley downgraded TC Energy from an “equal weight” rating to an “underweight” rating and set a $78.00 price target for the company. in a report on Tuesday, April 26th. They noted that the move was a valuation call. CIBC raised TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Thursday, May 12th. Scotiabank upped their price target on TC Energy from C$72.00 to C$78.00 in a report on Wednesday, April 13th. StockNews.com started coverage on TC Energy in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Wolfe Research downgraded TC Energy from a “peer perform” rating to an “underperform” rating and upped their price target for the company from $53.00 to $57.00 in a report on Monday, April 11th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $68.00.

TC Energy Profile (Get Rating)

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 Storage. The company builds and operates 93,300 km network 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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