Jupiter Topco LLC purchased a new stake in TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 1,446,296 shares of the pipeline company’s stock, valued at approximately $95,888,000.
Several other institutional investors also recently bought and sold shares of the company. Groupe la Francaise increased its position in shares of TC Energy by 2.1% during the first quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock worth $459,000 after purchasing an additional 154 shares in the last quarter. Wealthstar Advisors LLC lifted its holdings in TC Energy by 1.5% in the 1st quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company’s stock valued at $718,000 after purchasing an additional 165 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in TC Energy by 5.7% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company’s stock worth $245,000 after purchasing an additional 210 shares during the last quarter. Arax Advisory Partners boosted its stake in TC Energy by 7.9% during the 4th quarter. Arax Advisory Partners now owns 3,029 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 221 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of TC Energy by 5.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,223 shares of the pipeline company’s stock worth $232,000 after buying an additional 232 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.
TC Energy Trading Up 1.6%
Shares of TRP opened at $62.82 on Thursday. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64. TC Energy Corporation has a 12-month low of $49.27 and a 12-month high of $71.47. The firm has a 50-day moving average price of $66.56 and a 200 day moving average price of $65.34. The firm has a market capitalization of $65.45 billion, a P/E ratio of 26.07 and a beta of 0.66.
TC Energy Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be given a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy’s payout ratio is presently 102.49%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on TRP. BMO Capital Markets reissued an “outperform” rating and issued a $99.00 price target on shares of TC Energy in a research note on Friday, July 31st. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a report on Tuesday, July 21st. National Bank Financial raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. Finally, US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.00.
View Our Latest Stock Analysis on TRP
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.
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