TC Energy Co. (NYSE:TRP) Shares Purchased by Citigroup Inc.

Citigroup Inc. increased its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 73.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 166,822 shares of the pipeline company’s stock after acquiring an additional 70,905 shares during the quarter. Citigroup Inc.’s holdings in TC Energy were worth $7,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRP. Raymond James Trust N.A. raised its stake in shares of TC Energy by 5.7% during the 3rd quarter. Raymond James Trust N.A. now owns 30,283 shares of the pipeline company’s stock valued at $1,440,000 after buying an additional 1,621 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in TC Energy by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,812,692 shares of the pipeline company’s stock worth $133,845,000 after acquiring an additional 98,245 shares during the period. Intech Investment Management LLC raised its position in TC Energy by 31.2% during the third quarter. Intech Investment Management LLC now owns 43,225 shares of the pipeline company’s stock valued at $2,057,000 after acquiring an additional 10,289 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in TC Energy in the third quarter valued at approximately $66,000. Finally, Ontario Teachers Pension Plan Board purchased a new stake in TC Energy in the 3rd quarter worth approximately $1,373,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. BMO Capital Markets lifted their price objective on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group increased their price target on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $55.67.

TC Energy Trading Up 1.0 %

Shares of TC Energy stock opened at $48.90 on Friday. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37. The firm’s 50-day moving average price is $47.49 and its 200 day moving average price is $43.55. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $50.76 billion, a PE ratio of 13.55, a P/E/G ratio of 4.03 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. On average, sell-side analysts predict that TC Energy Co. will post 3 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. 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 dividend yield of 6.72%. TC Energy’s dividend payout ratio 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.