TC Energy Co. (NYSE:TRP) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 15.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,109,055 shares of the pipeline company’s stock after buying an additional 278,886 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.21% of TC Energy worth $81,599,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EdgeRock Capital LLC acquired a new position in TC Energy during the fourth quarter valued at approximately $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of TC Energy during the fourth quarter worth $26,000. Creekmur Asset Management LLC acquired a new position in shares of TC Energy during the fourth quarter worth $27,000. Glassman Wealth Services lifted its position in shares of TC Energy by 61.0% during the fourth quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 275 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new position in shares of TC Energy during the fourth quarter worth $31,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $48.83.

TC Energy Stock Down 0.8 %

TRP traded down $0.30 during trading on Friday, hitting $37.87. The company had a trading volume of 5,219,006 shares, compared to its average volume of 2,805,749. The company has a market cap of $37.87 billion, a PE ratio of 19.52, a P/E/G ratio of 3.17 and a beta of 0.79. The business has a 50-day moving average of $38.29 and a 200-day moving average of $38.73. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.94 and a quick ratio of 0.85. TC Energy Co. has a 1-year low of $32.51 and a 1-year high of $41.03.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.12 billion. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. As a group, analysts forecast that TC Energy Co. will post 3.01 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.50%. TC Energy’s dividend payout ratio (DPR) is 144.33%.

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.