177,391 Shares in TC Energy Corporation $TRP Purchased by Capital Innovations LLC

Capital Innovations LLC acquired a new position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 177,391 shares of the pipeline company’s stock, valued at approximately $9,758,000. TC Energy accounts for about 2.8% of Capital Innovations LLC’s portfolio, making the stock its 16th biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in the business. Mesirow Financial Investment Management Inc. lifted its stake in TC Energy by 2.0% in the third quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock worth $544,000 after acquiring an additional 200 shares during the period. Gold Investment Management Ltd. lifted its stake in TC Energy by 2.0% in the fourth quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock worth $549,000 after acquiring an additional 200 shares during the period. Kennebec Savings Bank lifted its stake in TC Energy by 2.1% in the fourth quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock worth $542,000 after acquiring an additional 203 shares during the period. Checchi Capital Advisers LLC lifted its stake in TC Energy by 3.4% in the third quarter. Checchi Capital Advisers LLC now owns 6,171 shares of the pipeline company’s stock worth $336,000 after acquiring an additional 204 shares during the period. Finally, JCIC Asset Management Inc. lifted its position in shares of TC Energy by 6.2% during the fourth quarter. JCIC Asset Management Inc. now owns 3,746 shares of the pipeline company’s stock valued at $206,000 after buying an additional 220 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on TRP. National Bank Financial raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Royal Bank Of Canada increased their price target on shares of TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Wall Street Zen raised shares of TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Citigroup reissued a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, TC Energy currently has an average rating of “Moderate Buy” and an average target price of $78.50.

TC Energy Stock Performance

Shares of TC Energy stock opened at $68.06 on Wednesday. The firm has a market capitalization of $68.06 billion, a P/E ratio of 29.54 and a beta of 0.66. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The company has a 50 day moving average price of $64.74 and a 200 day moving average price of $60.18. TC Energy Corporation has a 52 week low of $46.29 and a 52 week high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same period last year, the firm posted $0.95 EPS. Sell-side analysts expect that TC Energy Corporation will post 2.75 EPS for the current year.

TC Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s dividend payout ratio (DPR) is presently 109.57%.

TC Energy 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.