Tidal Investments LLC Boosts Stake in TC Energy Corporation $TRP

Tidal Investments LLC grew its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 359.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 57,665 shares of the pipeline company’s stock after buying an additional 45,110 shares during the quarter. Tidal Investments LLC’s holdings in TC Energy were worth $3,819,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRP. Cidel Asset Management Inc. boosted its position in TC Energy by 18.8% in the second quarter. Cidel Asset Management Inc. now owns 21,426 shares of the pipeline company’s stock worth $1,418,000 after purchasing an additional 3,390 shares during the last quarter. IFP Advisors Inc grew its stake in TC Energy by 89.6% in the 2nd quarter. IFP Advisors Inc now owns 2,943 shares of the pipeline company’s stock valued at $195,000 after purchasing an additional 1,391 shares during the period. Squarepoint Ops LLC increased its position in shares of TC Energy by 3,030.3% during the 2nd quarter. Squarepoint Ops LLC now owns 30,417 shares of the pipeline company’s stock valued at $2,016,000 after purchasing an additional 31,455 shares during the last quarter. Nykredit A S purchased a new stake in shares of TC Energy during the 2nd quarter valued at $24,158,000. Finally, Allianz Asset Management GmbH raised its stake in shares of TC Energy by 14.1% during the 2nd quarter. Allianz Asset Management GmbH now owns 618,384 shares of the pipeline company’s stock worth $40,936,000 after purchasing an additional 76,601 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TRP shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. Scotiabank restated an “outperform” rating on shares of TC Energy in a report on Tuesday, July 21st. TD Securities raised shares of TC Energy from a “hold” rating to a “buy” rating in a research report on Monday. BMO Capital Markets reiterated an “outperform” rating and issued a $99.00 target price on shares of TC Energy in a research note on Friday, July 31st. Finally, Barclays reissued an “overweight” rating on shares of TC Energy in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.00.

TC Energy Price Performance

TRP opened at $61.18 on Tuesday. The firm has a 50-day moving average price of $65.13 and a 200-day moving average price of $65.39. TC Energy Corporation has a twelve month low of $49.27 and a twelve month high of $71.47. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $61.18 billion, a price-to-earnings ratio of 25.38 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.76 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same period in the prior year, the company posted $0.82 EPS. Equities analysts expect that TC Energy Corporation will post 2.78 EPS for the current year.

TC Energy Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $3.51 dividend on an annualized basis and a yield of 5.7%. TC Energy’s payout ratio is presently 104.98%.

TC Energy Company Profile

TC Energy Corporation is an energy infrastructure company that develops and operates natural gas pipeline, storage and power-generation assets. Its natural gas pipeline network connects major supply basins with utilities, power generators, industrial customers and export markets, while its storage facilities help support the reliability and flexibility of energy systems.

The company serves customers across Canada, the United States and Mexico. Its operations include regulated and contracted natural gas transportation, natural gas storage, and nuclear and other power-generation activities.