TC Energy Corporation $TRP Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 32.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,496,410 shares of the pipeline company’s stock after buying an additional 1,109,897 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in TC Energy were worth $244,650,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC purchased a new position in shares of TC Energy in the 3rd quarter worth about $1,391,000. Advisors Asset Management Inc. increased its position in TC Energy by 38.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 88,140 shares of the pipeline company’s stock worth $4,796,000 after purchasing an additional 24,617 shares in the last quarter. Norges Bank purchased a new position in TC Energy in the second quarter valued at approximately $493,434,000. Citigroup Inc. lifted its position in TC Energy by 19.2% during the third quarter. Citigroup Inc. now owns 378,086 shares of the pipeline company’s stock valued at $20,562,000 after buying an additional 61,013 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in TC Energy by 9.2% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,365,500 shares of the pipeline company’s stock worth $74,297,000 after buying an additional 115,000 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TRP shares. Raymond James Financial raised shares of TC Energy to a “hold” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada lifted their target price on shares of TC Energy from $84.00 to $92.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. Wall Street Zen upgraded TC Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, National Bank Financial lowered TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $72.50.

TC Energy Stock Performance

TC Energy stock opened at $64.24 on Tuesday. TC Energy Corporation has a 52 week low of $43.59 and a 52 week high of $65.57. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. The stock has a market cap of $66.89 billion, a P/E ratio of 27.64 and a beta of 0.72. The stock has a 50 day moving average of $59.72 and a 200-day moving average of $55.52.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.94 billion. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. During the same quarter in the previous year, the firm earned $1.05 earnings per share. On average, analysts expect that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.51 annualized dividend and a yield of 5.5%. This is an increase from TC Energy’s previous quarterly dividend of $0.85. TC Energy’s dividend payout ratio (DPR) is 106.90%.

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.