Alberta Investment Management Corp Takes $55.65 Million Position in TC Energy Corporation $TRP

Alberta Investment Management Corp purchased a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the fourth quarter, HoldingsChannel reports. The firm purchased 1,010,638 shares of the pipeline company’s stock, valued at approximately $55,652,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OMERS ADMINISTRATION Corp boosted its stake in TC Energy by 49.6% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 2,420,000 shares of the pipeline company’s stock worth $133,433,000 after buying an additional 802,190 shares during the period. Thornburg Investment Management Inc. increased its position in shares of TC Energy by 0.3% during the fourth quarter. Thornburg Investment Management Inc. now owns 4,040,854 shares of the pipeline company’s stock valued at $222,536,000 after acquiring an additional 13,568 shares during the last quarter. MML Investors Services LLC increased its position in shares of TC Energy by 8.1% during the fourth quarter. MML Investors Services LLC now owns 98,003 shares of the pipeline company’s stock valued at $5,391,000 after acquiring an additional 7,363 shares during the last quarter. Mufg Securities Canada LTD. increased its position in shares of TC Energy by 16.1% during the fourth quarter. Mufg Securities Canada LTD. now owns 5,424,436 shares of the pipeline company’s stock valued at $298,765,000 after acquiring an additional 753,588 shares during the last quarter. Finally, Mariner LLC increased its position in shares of TC Energy by 105.0% during the fourth quarter. Mariner LLC now owns 108,821 shares of the pipeline company’s stock valued at $5,991,000 after acquiring an additional 55,736 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TRP shares. Citigroup reiterated a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. Raymond James Financial upgraded shares of TC Energy to a “hold” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. Weiss Ratings lowered TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Finally, BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.50.

TC Energy Trading Down 0.4%

TRP opened at $69.13 on Tuesday. 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 $65.80 and a 200-day simple moving average of $61.19. The firm has a market cap of $69.13 billion, a P/E ratio of 30.01 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. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Tuesday, June 30th. TC Energy’s dividend payout ratio (DPR) is presently 109.57%.

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.