42,300 Shares in TC Energy Corporation $TRP Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 42,300 shares of the pipeline company’s stock, valued at approximately $2,803,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in TC Energy by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock worth $2,632,200,000 after buying an additional 980,221 shares during the period. FIL Ltd boosted its position in shares of TC Energy by 3.9% during the 4th quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company’s stock worth $1,558,669,000 after purchasing an additional 1,052,166 shares during the period. TD Asset Management Inc increased its holdings in TC Energy by 6.3% in the 4th quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock valued at $1,150,656,000 after purchasing an additional 1,244,525 shares during the last quarter. GQG Partners LLC purchased a new stake in TC Energy in the second quarter valued at approximately $1,107,936,000. Finally, Deutsche Bank AG raised its position in TC Energy by 1.3% in the second quarter. Deutsche Bank AG now owns 15,821,521 shares of the pipeline company’s stock valued at $1,048,809,000 after purchasing an additional 196,543 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TRP shares. Royal Bank Of Canada lifted their price objective on TC Energy from $104.00 to $106.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. BMO Capital Markets reissued an “outperform” rating and set a $99.00 target price on shares of TC Energy in a research note on Friday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of TC Energy in a report on Friday, July 31st. TD Securities reaffirmed a “hold” rating on shares of TC Energy in a research report on Thursday, July 16th. Finally, US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. One research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

TC Energy Price Performance

TRP stock opened at $61.85 on Wednesday. The business’s 50-day moving average is $66.66 and its two-hundred day moving average is $65.32. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54. The firm has a market capitalization of $64.45 billion, a P/E ratio of 25.67 and a beta of 0.66. TC Energy Corporation has a 1 year low of $49.27 and a 1 year high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the company posted $0.82 earnings per share. Analysts anticipate that TC Energy Corporation will post 2.78 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The company also recently declared 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 is Tuesday, September 29th. TC Energy’s payout ratio is 102.49%.

TC Energy Company 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.