TC Energy Corporation $TRP Shares Bought by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. raised its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 13.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 294,618 shares of the pipeline company’s stock after buying an additional 35,349 shares during the period. Harvest Portfolios Group Inc.’s holdings in TC Energy were worth $16,019,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacifica Partners Inc. boosted its holdings in TC Energy by 14.0% during the 3rd quarter. Pacifica Partners Inc. now owns 1,625 shares of the pipeline company’s stock valued at $87,000 after acquiring an additional 200 shares during the period. Mesirow Financial Investment Management Inc. lifted its position in shares of TC Energy by 2.0% during the third quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock worth $544,000 after purchasing an additional 200 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its stake in shares of TC Energy by 2.8% in the third quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock valued at $399,000 after purchasing an additional 202 shares during the period. Checchi Capital Advisers LLC grew its holdings in shares of TC Energy by 3.4% in the third quarter. Checchi Capital Advisers LLC now owns 6,171 shares of the pipeline company’s stock valued at $336,000 after purchasing an additional 204 shares in the last quarter. Finally, Ewing Morris & Co. Investment Partners Ltd. grew its holdings in shares of TC Energy by 0.6% in the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 37,962 shares of the pipeline company’s stock valued at $1,873,000 after purchasing an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

TRP has been the subject of several recent research reports. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. BMO Capital Markets reiterated an “outperform” rating on shares of TC Energy in a report on Tuesday, February 17th. Citigroup restated a “neutral” rating on shares of TC Energy in a report on Thursday, February 19th. The Goldman Sachs Group lifted their price objective on TC Energy from $48.00 to $53.00 and gave the company a “sell” rating in a research note on Wednesday, February 18th. Finally, Royal Bank Of Canada upped their target price on shares of TC Energy from $84.00 to $92.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $72.50.

TC Energy Trading Up 2.1%

NYSE:TRP opened at $64.38 on Friday. TC Energy Corporation has a 1 year low of $43.59 and a 1 year high of $64.92. The stock has a market cap of $67.03 billion, a P/E ratio of 27.70 and a beta of 0.73. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63. The stock has a 50-day simple moving average of $57.89 and a 200-day simple moving average of $54.48.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.94 billion. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.During the same quarter in the previous year, the business earned $1.05 earnings per share. As a group, analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.8775 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.51 annualized dividend and a yield of 5.5%. This is an increase from TC Energy’s previous quarterly dividend of $0.85. TC Energy’s dividend payout ratio (DPR) is 106.90%.

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.