Public Employees Retirement System of Ohio acquired a new stake in TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) during the second quarter, HoldingsChannel reports. The firm acquired 165,873 shares of the pipeline company’s stock, valued at approximately $10,980,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in TC Energy during the fourth quarter worth approximately $25,000. Sterling Capital Management LLC acquired a new stake in TC Energy during the first quarter worth approximately $26,000. McIlrath & Eck LLC acquired a new stake in TC Energy during the fourth quarter worth approximately $32,000. Trust Co. of Vermont acquired a new stake in TC Energy during the second quarter worth approximately $33,000. Finally, SWAN Capital LLC purchased a new stake in shares of TC Energy during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 83.13% of the company’s stock.
TC Energy Stock Performance
Shares of TC Energy stock opened at $62.57 on Tuesday. The firm’s fifty day simple moving average is $66.21 and its 200-day simple moving average is $65.39. The stock has a market capitalization of $65.19 billion, a price-to-earnings ratio of 25.96 and a beta of 0.66. TC Energy Corporation has a 12 month low of $49.27 and a 12 month high of $71.47. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54.
TC Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be issued a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy’s dividend payout ratio is presently 102.49%.
Analysts Set New Price Targets
A number of research analysts recently commented on TRP shares. National Bank Financial raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Barclays reissued an “overweight” rating on shares of TC Energy in a research report on Thursday, July 16th. Royal Bank Of Canada upped their price objective on shares of TC Energy from $104.00 to $106.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Morgan Stanley cut TC Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 10th. Finally, Canadian Imperial Bank of Commerce reissued 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, eight have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and an average target price of $89.00.
Check Out Our Latest Stock Report on TRP
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.
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