Russell Investments Group Ltd. Has $49.41 Million Holdings in TC Energy Co. (NYSE:TRP)

Russell Investments Group Ltd. lessened its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 19.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,258,643 shares of the pipeline company’s stock after selling 299,028 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.13% of TC Energy worth $49,407,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the business. EverSource Wealth Advisors LLC grew its position in TC Energy by 14.2% during the third quarter. EverSource Wealth Advisors LLC now owns 2,315 shares of the pipeline company’s stock valued at $80,000 after purchasing an additional 288 shares in the last quarter. AdvisorNet Financial Inc increased its stake in shares of TC Energy by 25.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock worth $58,000 after acquiring an additional 304 shares during the last quarter. Wealth Alliance raised its holdings in shares of TC Energy by 1.4% during the fourth quarter. Wealth Alliance now owns 22,531 shares of the pipeline company’s stock worth $881,000 after acquiring an additional 304 shares in the last quarter. Atria Investments Inc boosted its position in TC Energy by 0.7% during the third quarter. Atria Investments Inc now owns 46,620 shares of the pipeline company’s stock valued at $1,604,000 after purchasing an additional 317 shares during the last quarter. Finally, Ingalls & Snyder LLC grew its stake in TC Energy by 5.8% in the third quarter. Ingalls & Snyder LLC now owns 9,150 shares of the pipeline company’s stock valued at $315,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

NYSE:TRP opened at $35.91 on Tuesday. The firm’s 50-day moving average is $38.76 and its 200-day moving average is $38.10. The company has a market cap of $35.91 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 3.11 and a beta of 0.75. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96. TC Energy Co. has a 52-week low of $32.51 and a 52-week high of $42.49.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.93 billion. Equities research analysts anticipate that TC Energy Co. will post 2.9 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.714 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.86 dividend on an annualized basis and a yield of 7.95%. This is an increase from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s payout ratio is currently 139.41%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TRP. TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Jefferies Financial Group started coverage on shares of TC Energy in a research note on Tuesday, February 27th. They set a “hold” rating on the stock. Stifel Nicolaus began coverage on shares of TC Energy in a report on Thursday, January 18th. They issued a “buy” rating for the company. Barclays raised their target price on TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Finally, The Goldman Sachs Group upped their price target on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $48.83.

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 93,600 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.