MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Trims Stock Holdings in TC Energy Corporation $TRP

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 16.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,386,513 shares of the pipeline company’s stock after selling 653,092 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in TC Energy were worth $165,228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TRP. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in TC Energy by 52.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 58,263 shares of the pipeline company’s stock valued at $2,839,000 after acquiring an additional 20,023 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in TC Energy by 1.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,683,497 shares of the pipeline company’s stock worth $81,783,000 after purchasing an additional 22,848 shares in the last quarter. CIBC Asset Management Inc boosted its stake in TC Energy by 1.0% in the 2nd quarter. CIBC Asset Management Inc now owns 9,752,065 shares of the pipeline company’s stock worth $476,617,000 after purchasing an additional 98,410 shares during the period. Nebula Research & Development LLC bought a new stake in TC Energy during the second quarter valued at $251,000. Finally, Qube Research & Technologies Ltd increased its stake in TC Energy by 34.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 926,724 shares of the pipeline company’s stock worth $45,224,000 after acquiring an additional 239,508 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of TC Energy in a report on Monday. US Capital Advisors lowered shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 21st. Wall Street Zen lowered shares of TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Cibc Captl Mkts raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Finally, Royal Bank Of Canada upped their target price on shares of TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $84.00.

TC Energy Trading Up 1.1%

TRP stock opened at $54.35 on Friday. TC Energy Corporation has a one year low of $43.51 and a one year high of $55.37. The company has a market capitalization of $56.57 billion, a PE ratio of 23.43 and a beta of 0.70. The company’s 50 day moving average price is $52.90 and its two-hundred day moving average price is $51.03. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. As a group, analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, December 31st. This represents a $3.40 dividend on an annualized basis and a yield of 6.3%. This is an increase from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio (DPR) is currently 106.47%.

TC Energy 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.