Value Partners Investments Inc. Purchases 890 Shares of TC Energy Corporation $TRP

Value Partners Investments Inc. increased its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 18.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 5,791 shares of the pipeline company’s stock after buying an additional 890 shares during the period. Value Partners Investments Inc.’s holdings in TC Energy were worth $282,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TRP. Baader Bank Aktiengesellschaft grew its holdings in TC Energy by 4.4% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 6,325 shares of the pipeline company’s stock worth $289,000 after acquiring an additional 264 shares during the period. Compound Planning Inc. boosted its position in shares of TC Energy by 2.1% during the 1st quarter. Compound Planning Inc. now owns 13,806 shares of the pipeline company’s stock valued at $652,000 after purchasing an additional 288 shares in the last quarter. Prudential PLC grew its stake in TC Energy by 5.2% during the first quarter. Prudential PLC now owns 6,536 shares of the pipeline company’s stock worth $309,000 after purchasing an additional 326 shares during the period. Avantax Advisory Services Inc. grew its stake in TC Energy by 3.6% during the first quarter. Avantax Advisory Services Inc. now owns 9,908 shares of the pipeline company’s stock worth $468,000 after purchasing an additional 344 shares during the period. Finally, FSM Wealth Advisors LLC increased its holdings in TC Energy by 9.2% in the first quarter. FSM Wealth Advisors LLC now owns 5,152 shares of the pipeline company’s stock worth $243,000 after purchasing an additional 432 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TRP. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research report on Thursday, August 14th. US Capital Advisors lowered shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Finally, Wall Street Zen raised shares of TC Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Performance

NYSE TRP opened at $52.31 on Friday. The company has a market cap of $54.39 billion, a P/E ratio of 17.85, a PEG ratio of 4.99 and a beta of 0.77. The company has a fifty day simple moving average of $49.68 and a 200 day simple moving average of $48.88. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. TC Energy Corporation has a 12-month low of $40.76 and a 12-month high of $52.49.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.03. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same quarter in the prior year, the company posted $0.79 earnings per share. Sell-side analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a $0.6148 dividend. This represents a $2.46 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Monday, September 29th. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s payout ratio is 83.62%.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.