Tacita Capital Inc Invests $4.21 Million in TC Energy Corporation $TRP

Tacita Capital Inc bought a new position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the second quarter, HoldingsChannel reports. The fund bought 63,719 shares of the pipeline company’s stock, valued at approximately $4,211,000. TC Energy accounts for 2.3% of Tacita Capital Inc’s investment portfolio, making the stock its 10th biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of TRP. Vanguard Group Inc. increased its position in TC Energy by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock worth $2,632,200,000 after buying an additional 980,221 shares in the last quarter. FIL Ltd lifted its position in shares of TC Energy by 3.9% during the 4th quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company’s stock valued at $1,558,669,000 after buying an additional 1,052,166 shares in the last quarter. TD Asset Management Inc lifted its position in shares of TC Energy by 6.3% during the 4th quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock valued at $1,150,656,000 after buying an additional 1,244,525 shares in the last quarter. GQG Partners LLC grew its stake in shares of TC Energy by 586.5% during the 4th quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock valued at $890,711,000 after acquiring an additional 13,801,371 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of TC Energy by 1.3% during the 2nd quarter. Deutsche Bank AG now owns 15,821,521 shares of the pipeline company’s stock valued at $1,048,809,000 after acquiring an additional 196,543 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on TRP. TD Securities restated a “hold” rating on shares of TC Energy in a research note on Thursday, July 16th. BMO Capital Markets reiterated an “outperform” rating and issued a $99.00 price target on shares of TC Energy in a research report on Friday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of TC Energy in a research note on Friday, July 31st. Royal Bank Of Canada raised their price objective on shares of TC Energy from $104.00 to $106.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

TC Energy Trading Down 2.6%

Shares of TRP opened at $62.38 on Thursday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54. The company has a 50 day simple moving average of $67.22 and a two-hundred day simple moving average of $65.23. TC Energy Corporation has a 1 year low of $49.27 and a 1 year high of $71.47. The firm has a market cap of $64.99 billion, a P/E ratio of 25.88 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its 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. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period last year, the company posted $0.82 earnings per share. On average, equities analysts expect that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Announces Dividend

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