Canada Pension Plan Investment Board Has $737.61 Million Stock Holdings in TC Energy Co. (NYSE:TRP)

Canada Pension Plan Investment Board increased its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 107.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,462,155 shares of the pipeline company’s stock after buying an additional 10,065,000 shares during the quarter. TC Energy accounts for approximately 0.7% of Canada Pension Plan Investment Board’s investment portfolio, making the stock its 28th largest position. Canada Pension Plan Investment Board owned approximately 1.95% of TC Energy worth $737,609,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Intech Investment Management LLC acquired a new position in TC Energy in the 1st quarter valued at approximately $1,159,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in TC Energy by 15.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,109,055 shares of the pipeline company’s stock valued at $81,599,000 after purchasing an additional 278,886 shares during the period. M&G Plc bought a new position in TC Energy during the 1st quarter worth $111,587,000. Cetera Investment Advisers lifted its holdings in TC Energy by 74.1% during the 1st quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock worth $3,972,000 after buying an additional 42,024 shares during the period. Finally, Maryland State Retirement & Pension System lifted its holdings in TC Energy by 1.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 1,302,358 shares of the pipeline company’s stock worth $52,355,000 after buying an additional 22,430 shares during the period. Institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of NYSE TRP opened at $45.01 on Friday. The firm has a market capitalization of $45.01 billion, a P/E ratio of 23.20, a P/E/G ratio of 3.81 and a beta of 0.81. The firm’s 50-day moving average price is $43.88 and its 200-day moving average price is $40.32. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. TC Energy Co. has a 1-year low of $32.51 and a 1-year high of $47.38.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same period in the prior year, the business earned $0.71 EPS. Equities research analysts anticipate that TC Energy Co. will post 3.06 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a $0.702 dividend. This represents a $2.81 dividend on an annualized basis and a yield of 6.24%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is 146.39%.

Wall Street Analyst Weigh In

TRP has been the subject of a number of analyst reports. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. StockNews.com assumed coverage on shares of TC Energy in a report on Thursday. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $43.50.

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.