TC Energy Corporation $TRP Shares Purchased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. boosted its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,619,936 shares of the pipeline company’s stock after purchasing an additional 312,027 shares during the period. TC Energy makes up approximately 1.8% of TD Waterhouse Canada Inc.’s portfolio, making the stock its 10th biggest holding. TD Waterhouse Canada Inc. owned approximately 1.02% of TC Energy worth $695,799,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TRP. Ontario Teachers Pension Plan Board acquired a new position in TC Energy in the second quarter valued at $273,917,000. Korea Investment CORP acquired a new stake in TC Energy during the second quarter worth about $30,152,000. Canada Pension Plan Investment Board acquired a new stake in TC Energy during the second quarter worth about $1,148,244,000. Generali Asset Management SPA SGR raised its holdings in shares of TC Energy by 261.0% in the 4th quarter. Generali Asset Management SPA SGR now owns 74,906 shares of the pipeline company’s stock worth $4,121,000 after purchasing an additional 54,154 shares during the period. Finally, BROOKFIELD Corp ON raised its holdings in shares of TC Energy by 8.9% in the 1st quarter. BROOKFIELD Corp ON now owns 1,735,576 shares of the pipeline company’s stock worth $108,647,000 after purchasing an additional 141,556 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TRP shares. Jefferies Financial Group raised TC Energy from a “hold” rating to a “buy” rating in a research note on Tuesday. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. Royal Bank Of Canada boosted their price objective on shares of TC Energy from $104.00 to $106.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of TC Energy in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, TC Energy currently has an average rating of “Moderate Buy” and a consensus price target of $89.00.

TC Energy Stock Performance

Shares of NYSE:TRP opened at $62.87 on Friday. The business’s 50-day simple moving average is $65.81 and its 200 day simple moving average is $65.41. The company has a market cap of $65.51 billion, a P/E ratio of 26.09 and a beta of 0.66. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.54 and a current ratio of 0.61. TC Energy Corporation has a one year low of $49.27 and a one year high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly 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. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the prior year, the business earned $0.82 EPS. On average, sell-side analysts forecast 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. Stockholders of record on Tuesday, September 29th will be given a dividend of $0.8775 per share. 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 payout ratio is presently 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.