TC Energy Corporation $TRP Shares Purchased by TD Asset Management Inc

TD Asset Management Inc boosted its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 6.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 20,868,772 shares of the pipeline company’s stock after buying an additional 1,244,525 shares during the quarter. TC Energy makes up about 0.9% of TD Asset Management Inc’s holdings, making the stock its 24th biggest holding. TD Asset Management Inc’s holdings in TC Energy were worth $1,150,656,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in TC Energy during the fourth quarter worth $25,000. Trust Co. of Vermont acquired a new stake in TC Energy during the fourth quarter worth $28,000. McIlrath & Eck LLC acquired a new stake in TC Energy during the fourth quarter worth $32,000. Westside Investment Management Inc. increased its stake in TC Energy by 100.0% during the third quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 297 shares during the last quarter. Finally, SWAN Capital LLC acquired a new stake in TC Energy during the third quarter worth $40,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TRP. Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Monday, May 4th. National Bank Financial raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Wells Fargo & Company reissued an “overweight” rating on shares of TC Energy in a research note on Monday, February 16th. Weiss Ratings cut TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, Scotiabank reissued an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. One equities 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.50.

TC Energy Trading Down 0.3%

TRP opened at $67.83 on Thursday. TC Energy Corporation has a 52 week low of $46.29 and a 52 week high of $71.47. The business has a fifty day simple moving average of $64.91 and a 200-day simple moving average of $60.37. The firm has a market cap of $67.83 billion, a P/E ratio of 29.44 and a beta of 0.66. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the business posted $0.95 earnings per share. On average, equities analysts expect that TC Energy Corporation will post 2.75 earnings per share for the current year.

TC Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a $0.8775 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a yield of 5.2%. TC Energy’s dividend payout ratio (DPR) is 109.57%.

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.