Quantinno Capital Management LP increased its holdings in TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) by 19.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,547 shares of the pipeline company’s stock after acquiring an additional 24,114 shares during the quarter. Quantinno Capital Management LP’s holdings in TC Energy were worth $9,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of TRP. AQR Capital Management LLC grew its holdings in TC Energy by 54.0% in the first quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock worth $538,000 after purchasing an additional 3,892 shares during the period. Focus Partners Wealth lifted its holdings in shares of TC Energy by 46.1% during the first quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock valued at $588,000 after purchasing an additional 3,929 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of TC Energy by 200.7% in the 1st quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock worth $1,269,000 after purchasing an additional 17,939 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of TC Energy by 50.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,706 shares of the pipeline company’s stock worth $181,000 after purchasing an additional 1,243 shares in the last quarter. Finally, Guggenheim Capital LLC grew its stake in shares of TC Energy by 9.9% in the 2nd quarter. Guggenheim Capital LLC now owns 16,758 shares of the pipeline company’s stock worth $818,000 after buying an additional 1,511 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. Morgan Stanley cut TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $99.00 price target on shares of TC Energy in a research report on Friday. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TC Energy in a report on Friday. Finally, The Goldman Sachs Group upgraded shares of TC Energy from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $53.00 to $62.00 in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, TC Energy has a consensus rating of “Moderate Buy” and an average price target of $89.00.
TC Energy Stock Performance
Shares of TRP stock opened at $65.38 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. The company has a 50 day moving average price of $68.20 and a 200-day moving average price of $64.64. TC Energy Corporation has a 52 week low of $48.49 and a 52 week high of $71.47. The firm has a market capitalization of $68.12 billion, a PE ratio of 27.13 and a beta of 0.66.
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last issued its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.07. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter last year, the company posted $0.82 earnings per share. As a group, equities research analysts expect that TC Energy Corporation will post 2.73 earnings per share for the current year.
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 paid a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Tuesday, September 29th. TC Energy’s dividend payout ratio (DPR) is 102.49%.
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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