SG Americas Securities LLC Acquires Shares of 59,468 TC Energy Corporation $TRP

SG Americas Securities LLC purchased a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 59,468 shares of the pipeline company’s stock, valued at approximately $2,901,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in TC Energy by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 44,397,978 shares of the pipeline company’s stock valued at $2,096,739,000 after purchasing an additional 710,837 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of TC Energy by 34.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock valued at $935,627,000 after purchasing an additional 5,053,228 shares in the last quarter. TD Asset Management Inc raised its stake in TC Energy by 9.3% in the second quarter. TD Asset Management Inc now owns 19,074,181 shares of the pipeline company’s stock valued at $929,316,000 after buying an additional 1,618,441 shares in the last quarter. Bank of Nova Scotia lifted its stake in TC Energy by 80.3% during the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock worth $802,164,000 after purchasing an additional 7,562,887 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of TC Energy by 2,565.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock worth $769,815,000 after buying an additional 15,694,336 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

TRP has been the subject of several recent research reports. Cibc World Mkts downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Barclays restated an “overweight” rating on shares of TC Energy in a research report on Tuesday, October 14th. Royal Bank Of Canada raised their price objective on TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Finally, BMO Capital Markets upgraded TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, TC Energy currently has an average rating of “Moderate Buy” and an average price target of $77.00.

TC Energy Stock Down 0.6%

Shares of NYSE TRP opened at $54.17 on Wednesday. The stock’s 50-day simple moving average is $52.51 and its 200-day simple moving average is $50.52. TC Energy Corporation has a 1 year low of $43.51 and a 1 year high of $55.37. The firm has a market cap of $56.37 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 4.82 and a beta of 0.73. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter last year, the company posted $1.03 earnings per share. As a group, equities analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Wednesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio is 103.88%.

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.