TD Waterhouse Canada Inc. Increases Stock Position in TC Energy Corporation $TRP

TD Waterhouse Canada Inc. boosted its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,620,139 shares of the pipeline company’s stock after buying an additional 216,396 shares during the quarter. TC Energy makes up approximately 1.6% of TD Waterhouse Canada Inc.’s investment portfolio, making the stock its 14th biggest holding. TD Waterhouse Canada Inc.’s holdings in TC Energy were worth $220,909,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Park Avenue Securities LLC boosted its position in TC Energy by 2.3% during the 2nd quarter. Park Avenue Securities LLC now owns 9,947 shares of the pipeline company’s stock valued at $485,000 after acquiring an additional 225 shares in the last quarter. Gold Investment Management Ltd. lifted its stake in shares of TC Energy by 2.5% during the 2nd quarter. Gold Investment Management Ltd. now owns 9,656 shares of the pipeline company’s stock worth $471,000 after purchasing an additional 232 shares during the last quarter. Baader Bank Aktiengesellschaft boosted its position in TC Energy by 4.4% during the first quarter. Baader Bank Aktiengesellschaft now owns 6,325 shares of the pipeline company’s stock valued at $289,000 after purchasing an additional 264 shares in the last quarter. Compound Planning Inc. boosted its position in TC Energy by 2.1% during the first quarter. Compound Planning Inc. now owns 13,806 shares of the pipeline company’s stock valued at $652,000 after purchasing an additional 288 shares in the last quarter. Finally, Prudential PLC grew its stake in TC Energy by 5.2% in the first quarter. Prudential PLC now owns 6,536 shares of the pipeline company’s stock valued at $309,000 after purchasing an additional 326 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Down 0.6%

NYSE:TRP opened at $54.17 on Wednesday. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. TC Energy Corporation has a twelve month low of $43.51 and a twelve month high of $55.37. The company has a market cap of $56.37 billion, a PE ratio of 18.49, a P/E/G ratio of 4.82 and a beta of 0.73. The company’s 50 day moving average is $52.51 and its two-hundred day moving average is $50.52.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $2.63 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same period in the previous year, the firm posted $1.03 earnings per share. Analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

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

Analysts Set New Price Targets

Several analysts have commented on TRP shares. Cibc World Mkts lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. BMO Capital Markets raised shares of TC Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, November 7th. TD Securities reaffirmed a “buy” rating on shares of TC Energy in a report on Friday, October 17th. US Capital Advisors downgraded TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 21st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of TC Energy in a research report on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

About TC Energy

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.