Viewpoint Investment Partners Corp boosted its position in TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) by 60.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,225 shares of the pipeline company’s stock after purchasing an additional 21,868 shares during the quarter. TC Energy makes up approximately 1.0% of Viewpoint Investment Partners Corp’s investment portfolio, making the stock its 29th largest holding. Viewpoint Investment Partners Corp’s holdings in TC Energy were worth $3,206,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in TRP. Canada Pension Plan Investment Board bought a new stake in shares of TC Energy in the 2nd quarter valued at about $1,148,244,000. GQG Partners LLC bought a new stake in shares of TC Energy in the 2nd quarter valued at about $1,107,936,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of TC Energy in the 2nd quarter worth approximately $977,976,000. Legal & General Group Plc purchased a new position in shares of TC Energy in the 2nd quarter worth approximately $519,612,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of TC Energy in the 2nd quarter worth approximately $362,982,000. 83.13% of the stock is currently owned by institutional investors.
TC Energy Stock Performance
TRP opened at $62.50 on Tuesday. TC Energy Corporation has a 12-month low of $49.27 and a 12-month high of $71.47. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $62.50 billion, a PE ratio of 25.93 and a beta of 0.70. The firm has a 50 day moving average of $61.26 and a two-hundred day moving average of $63.39.
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last announced its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.76 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same period in the previous year, the business posted $0.82 EPS. On average, analysts anticipate that TC Energy Corporation will post 2.78 EPS for the current year.
TC Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be given a dividend of C$0.88 per share. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 dividend on an annualized basis and a yield of 5.6%. TC Energy’s payout ratio is currently 104.98%.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on TRP. Weiss Ratings restated a “buy (b)” rating on shares of TC Energy in a research note on Friday, July 31st. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a report on Thursday, July 16th. TD Securities reaffirmed a “buy” rating on shares of TC Energy in a research report on Friday, October 16th. The Goldman Sachs Group upgraded TC Energy from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Wednesday, September 30th. Finally, Raymond James Financial reissued a “market perform” rating on shares of TC Energy in a research report on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, TC Energy has an average rating of “Moderate Buy” and a consensus target price of $93.75.
Check Out Our Latest Stock Report on TC Energy
TC Energy Company Profile
TC Energy Corporation (NYSE: TRP) is a North American energy infrastructure company that develops and operates natural gas pipelines, storage facilities, power-generation assets and related energy infrastructure. Its natural gas pipeline network connects major supply basins with utilities, power producers, industrial customers and local distribution companies.
The company’s operations are primarily located in Canada and the United States, with additional natural gas pipeline interests in Mexico.
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