EFG International AG Makes New Investment in TC Energy Corporation $TRP

EFG International AG acquired a new stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 33,278 shares of the pipeline company’s stock, valued at approximately $2,208,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRP. AQR Capital Management LLC raised its position in TC Energy by 54.0% during the 1st quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock valued at $538,000 after purchasing an additional 3,892 shares during the last quarter. Focus Partners Wealth grew its position in shares of TC Energy by 46.1% in the 1st quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock worth $588,000 after buying an additional 3,929 shares during the last quarter. Intech Investment Management LLC grew its position in shares of TC Energy by 200.7% in the 1st quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock worth $1,269,000 after buying an additional 17,939 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of TC Energy by 50.5% during the second quarter. EverSource Wealth Advisors LLC now owns 3,706 shares of the pipeline company’s stock valued at $181,000 after buying an additional 1,243 shares during the period. Finally, Guggenheim Capital LLC increased its stake in shares of TC Energy by 9.9% during the second quarter. Guggenheim Capital LLC now owns 16,758 shares of the pipeline company’s stock valued at $818,000 after buying an additional 1,511 shares during the period. 83.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TRP. BMO Capital Markets reaffirmed an “outperform” rating and issued a $99.00 price target on shares of TC Energy in a research note on Friday, July 31st. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research report on Tuesday, July 21st. Morgan Stanley downgraded shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 10th. Royal Bank Of Canada upped their price objective on shares of TC Energy from $104.00 to $106.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, TD Securities reaffirmed a “hold” rating on shares of TC Energy in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.00.

TC Energy Stock Up 1.6%

TRP stock opened at $62.82 on Thursday. TC Energy Corporation has a fifty-two week low of $49.27 and a fifty-two week high of $71.47. The business’s 50 day moving average price is $66.56 and its two-hundred day moving average price is $65.34. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.54 and a current ratio of 0.61. The company has a market capitalization of $65.45 billion, a price-to-earnings ratio of 26.07 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.During the same period in the previous year, the company posted $0.82 earnings per share. As a group, analysts forecast that TC Energy Corporation will post 2.78 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be given a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. TC Energy’s dividend payout ratio is currently 102.49%.

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.