19,916 Shares in TC Energy Corporation $TRP Acquired by Equitable Holdings Inc.

Equitable Holdings Inc. purchased a new position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,916 shares of the pipeline company’s stock, valued at approximately $1,320,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRP. Jefferies Financial Group Inc. purchased a new stake in shares of TC Energy during the second quarter valued at approximately $13,247,000. Public Employees Retirement System of Ohio purchased a new position in shares of TC Energy in the second quarter worth $10,980,000. Capstone Investment Advisors LLC purchased a new position in shares of TC Energy in the second quarter worth $420,000. Transamerica Financial Advisors LLC bought a new stake in TC Energy during the 2nd quarter valued at $56,000. Finally, Corient Private Wealth LP bought a new stake in TC Energy during the 2nd quarter valued at $2,462,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of TRP stock opened at $61.87 on Friday. The stock has a fifty day moving average of $66.33 and a 200 day moving average of $65.34. TC Energy Corporation has a 52 week low of $49.27 and a 52 week high of $71.47. The firm has a market capitalization of $64.46 billion, a price-to-earnings ratio of 25.67 and a beta of 0.66. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the previous year, the firm earned $0.82 EPS. As a group, research analysts expect that TC Energy Corporation will post 2.78 earnings per share for the current year.

TC Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be given a dividend of $0.8775 per share. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 annualized dividend and a dividend yield of 5.7%. TC Energy’s payout ratio is currently 102.49%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. BMO Capital Markets reaffirmed an “outperform” rating and set a $99.00 price objective on shares of TC Energy in a research note on Friday, July 31st. 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. Barclays reiterated an “overweight” rating on shares of TC Energy in a report on Thursday, July 16th. Finally, Scotiabank restated an “outperform” rating on shares of TC Energy in a report on Tuesday, July 21st. One equities research 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 MarketBeat.com, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.

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.