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

TD Waterhouse Canada Inc. increased its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 1.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,806,132 shares of the pipeline company’s stock after acquiring an additional 58,624 shares during the quarter. TC Energy comprises 1.6% of TD Waterhouse Canada Inc.’s investment portfolio, making the stock its 15th largest holding. TD Waterhouse Canada Inc.’s holdings in TC Energy were worth $263,516,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. increased its holdings in TC Energy by 2.0% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock worth $544,000 after acquiring an additional 200 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its stake in TC Energy by 2.8% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock worth $399,000 after purchasing an additional 202 shares during the period. Kennebec Savings Bank boosted its stake in TC Energy by 2.1% in the 4th quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock worth $542,000 after purchasing an additional 203 shares during the period. Checchi Capital Advisers LLC boosted its stake in TC Energy by 3.4% in the 3rd quarter. Checchi Capital Advisers LLC now owns 6,171 shares of the pipeline company’s stock worth $336,000 after purchasing an additional 204 shares during the period. Finally, JCIC Asset Management Inc. boosted its stake in TC Energy by 6.2% in the 4th quarter. JCIC Asset Management Inc. now owns 3,746 shares of the pipeline company’s stock worth $206,000 after purchasing an additional 220 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. The Goldman Sachs Group set a $62.00 target price on TC Energy and gave the stock a “neutral” rating in a research note on Monday. Morgan Stanley restated an “overweight” rating on shares of TC Energy in a research note on Wednesday, January 28th. Raymond James Financial upgraded TC Energy to a “hold” rating in a research note on Tuesday, February 17th. Barclays restated an “overweight” rating on shares of TC Energy in a research note on Friday, February 20th. Finally, BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a research note on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.00.

TC Energy Stock Performance

Shares of TRP opened at $60.61 on Monday. The company has a market cap of $63.14 billion, a PE ratio of 26.08 and a beta of 0.69. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. The stock has a 50-day moving average price of $63.03 and a 200-day moving average price of $57.29. TC Energy Corporation has a 12-month low of $46.29 and a 12-month high of $65.57.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.94 billion. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.During the same quarter last year, the company posted $1.05 EPS. As a group, equities analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.8775 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.85. The ex-dividend date is Tuesday, March 31st. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.8%. TC Energy’s dividend payout ratio is 108.62%.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.