Legal & General Group Plc bought a new position in shares of TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,849,214 shares of the pipeline company’s stock, valued at approximately $519,612,000. Legal & General Group Plc owned 0.75% of TC Energy as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Sterling Capital Management LLC purchased a new position in TC Energy during the 1st quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of TC Energy in the 4th quarter valued at $25,000. Trust Co. of Vermont acquired a new stake in shares of TC Energy in the second quarter worth $33,000. McIlrath & Eck LLC purchased a new position in shares of TC Energy during the fourth quarter worth $32,000. Finally, SWAN Capital LLC purchased a new position in shares of TC Energy during the third quarter worth $40,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $99.00 price target on shares of TC Energy in a report on Friday, July 31st. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st. National Bank Financial raised TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Barclays restated an “overweight” rating on shares of TC Energy in a research note on Thursday, July 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of TC Energy in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, TC Energy presently has an average rating of “Moderate Buy” and a consensus target price of $89.00.
TC Energy Stock Up 0.1%
Shares of TRP opened at $62.06 on Tuesday. The firm has a market cap of $64.66 billion, a P/E ratio of 25.75 and a beta of 0.66. TC Energy Corporation has a 12 month low of $49.27 and a 12 month high of $71.47. The stock’s 50 day moving average is $66.80 and its two-hundred day moving average is $65.30. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64.
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last announced its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the prior year, the company posted $0.82 EPS. Analysts predict that TC Energy Corporation will post 2.78 earnings per share for the current fiscal year.
TC Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy’s dividend payout ratio (DPR) is presently 102.49%.
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.
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