Midwest Professional Planners LTD. increased its position in TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) by 89.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,954 shares of the pipeline company’s stock after purchasing an additional 14,643 shares during the period. Midwest Professional Planners LTD.’s holdings in TC Energy were worth $2,052,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of TRP. Ontario Teachers Pension Plan Board bought a new stake in shares of TC Energy in the 2nd quarter worth $273,917,000. Korea Investment CORP bought a new stake in TC Energy in the 2nd quarter worth about $30,152,000. Canada Pension Plan Investment Board bought a new position in TC Energy during the 2nd quarter valued at about $1,148,244,000. Generali Asset Management SPA SGR boosted its holdings in shares of TC Energy by 261.0% during the 4th quarter. Generali Asset Management SPA SGR now owns 74,906 shares of the pipeline company’s stock valued at $4,121,000 after acquiring an additional 54,154 shares during the last quarter. Finally, BROOKFIELD Corp ON grew its stake in shares of TC Energy by 8.9% in the first quarter. BROOKFIELD Corp ON now owns 1,735,576 shares of the pipeline company’s stock worth $108,647,000 after acquiring an additional 141,556 shares during the period. 83.13% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
TRP has been the subject of a number of research reports. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st. Barclays reissued an “overweight” rating on shares of TC Energy in a report on Thursday, July 16th. TD Securities restated a “hold” rating on shares of TC Energy in a research note on Thursday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of TC Energy in a report on Friday, July 31st. Finally, US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, TC Energy presently has an average rating of “Moderate Buy” and an average price target of $89.00.
TC Energy Trading Up 1.0%
TC Energy stock opened at $63.18 on Wednesday. The stock has a market cap of $65.83 billion, a P/E ratio of 26.22 and a beta of 0.66. 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 Corporation has a 1 year low of $49.27 and a 1 year high of $71.47. The firm’s 50 day moving average price is $66.09 and its 200-day moving average price is $65.41.
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 for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same quarter in the prior year, the business earned $0.82 earnings per share. On average, equities analysts predict that TC Energy Corporation will post 2.78 earnings per share for the current fiscal year.
TC Energy Announces Dividend
The company 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 $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Tuesday, September 29th. TC Energy’s payout ratio is currently 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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