The Manufacturers Life Insurance Company lifted its position in shares of TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) by 4.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,039,536 shares of the pipeline company’s stock after purchasing an additional 218,761 shares during the period. The Manufacturers Life Insurance Company owned about 0.50% of TC Energy worth $315,289,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in TRP. Sterling Capital Management LLC bought a new position in TC Energy in the 1st quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in TC Energy during the 4th quarter worth approximately $25,000. Trust Co. of Vermont bought a new stake in TC Energy during the 4th quarter worth approximately $28,000. McIlrath & Eck LLC bought a new stake in TC Energy during the 4th quarter worth approximately $32,000. Finally, SWAN Capital LLC acquired a new position in TC Energy in the 3rd quarter valued at approximately $40,000. Institutional investors and hedge funds own 83.13% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on TRP shares. Morgan Stanley downgraded shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. TD Securities restated a “hold” rating on shares of TC Energy in a report on Thursday, July 16th. Scotiabank restated an “outperform” rating on shares of TC Energy in a report on Tuesday, July 21st. National Bank Financial raised TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.50.
TC Energy Trading Down 3.3%
TRP opened at $68.29 on Tuesday. TC Energy Corporation has a twelve month low of $46.61 and a twelve month high of $71.47. The company has a fifty day moving average of $68.59 and a 200-day moving average of $64.09. The stock has a market cap of $71.15 billion, a PE ratio of 29.64 and a beta of 0.66. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67.
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last released its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same quarter in the previous year, the business earned $0.95 earnings per share. On average, sell-side analysts predict that TC Energy Corporation will post 2.72 EPS for the current year.
TC Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid 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 payout ratio is currently 107.39%.
TC Energy Company Profile
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.
Featured Articles
- Five stocks we like better than TC Energy
- AirJoule’s Kubota Deal Is a Major Validation—But the Hard Part Comes Next
- Dividend Stocks May Be the Quiet Rotation Trade Investors Are Missing Now
- Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There?
- Verizon May Be an AI Infrastructure Stock Hiding in Plain Sight
Want to see what other hedge funds are holding TRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP).
Receive News & Ratings for TC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TC Energy and related companies with MarketBeat.com's FREE daily email newsletter.
