American Century Companies Inc. Reduces Position in TC Energy Co. (NYSE:TRP)

American Century Companies Inc. reduced its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 15.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 220,626 shares of the pipeline company’s stock after selling 41,752 shares during the period. American Century Companies Inc.’s holdings in TC Energy were worth $8,363,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Intech Investment Management LLC purchased a new position in TC Energy in the 1st quarter worth approximately $1,159,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in TC Energy by 15.2% in the 1st 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 buying an additional 278,886 shares in the last quarter. M&G Plc acquired a new stake in shares of TC Energy in the 1st quarter worth $111,587,000. Cetera Investment Advisers raised its holdings in shares of 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 acquiring an additional 42,024 shares during the period. Finally, Maryland State Retirement & Pension System boosted its position in shares of 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 valued at $52,355,000 after acquiring an additional 22,430 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Performance

Shares of TC Energy stock opened at $47.11 on Tuesday. The stock has a market capitalization of $47.11 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 3.81 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The business has a 50-day moving average of $44.18 and a 200 day moving average of $40.42. TC Energy Co. has a 12 month low of $32.51 and a 12 month high of $47.38.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter last year, the company posted $0.71 EPS. As a group, sell-side analysts forecast that TC Energy Co. will post 3.06 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a dividend of $0.702 per share. The ex-dividend date is Friday, September 27th. This represents a $2.81 annualized dividend and a yield of 5.96%. TC Energy’s payout ratio is 146.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TRP shares. Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com began coverage on shares of TC Energy in a research report on Thursday, September 19th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $43.50.

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.