Infrastructure Capital Advisors LLC Acquires 66,257 Shares of TC Energy Corporation $TRP

Infrastructure Capital Advisors LLC increased its holdings in TC Energy Corporation (NYSE:TRPFree Report) (TSE:TRP) by 265.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,257 shares of the pipeline company’s stock after purchasing an additional 66,257 shares during the period. Infrastructure Capital Advisors LLC’s holdings in TC Energy were worth $5,713,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Quantinno Capital Management LP grew its stake in TC Energy by 19.4% in the 1st quarter. Quantinno Capital Management LP now owns 148,547 shares of the pipeline company’s stock valued at $9,296,000 after buying an additional 24,114 shares during the last quarter. BROOKFIELD Corp ON grew its position in TC Energy by 8.9% in the 1st quarter. BROOKFIELD Corp ON now owns 1,735,576 shares of the pipeline company’s stock worth $108,647,000 after purchasing an additional 141,556 shares during the last quarter. Castleark Management LLC grew its position in TC Energy by 23.5% during the first quarter. Castleark Management LLC now owns 64,810 shares of the pipeline company’s stock worth $4,057,000 after buying an additional 12,350 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its position in TC Energy by 10.3% during the first quarter. Bradley Foster & Sargent Inc. CT now owns 442,065 shares of the pipeline company’s stock worth $27,673,000 after buying an additional 41,133 shares in the last quarter. Finally, Lombard Odier Asset Management Switzerland SA increased its stake in TC Energy by 12.5% during the first quarter. Lombard Odier Asset Management Switzerland SA now owns 38,830 shares of the pipeline company’s stock valued at $2,426,000 after acquiring an additional 4,300 shares during the period. 83.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TRP. BMO Capital Markets reissued an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. Morgan Stanley lowered TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a report on Tuesday, July 21st. TD Securities restated a “hold” rating on shares of TC Energy in a research report on Thursday, July 16th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $78.50.

Get Our Latest Analysis on TC Energy

TC Energy Stock Performance

TC Energy stock opened at $68.29 on Tuesday. TC Energy Corporation has a 1 year low of $46.61 and a 1 year high of $71.47. The company has a market cap of $71.15 billion, a PE ratio of 29.64 and a beta of 0.66. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67. The company’s 50-day moving average is $68.59 and its two-hundred day moving average is $64.09.

TC Energy (NYSE:TRPGet Free Report) (TSE:TRP) last issued its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the business posted $0.95 earnings per share. Equities analysts anticipate that TC Energy Corporation will post 2.72 earnings per share for the current year.

TC Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s dividend payout ratio (DPR) is 107.39%.

About TC Energy

(Free Report)

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.

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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