Nykredit A S Purchases Shares of 444,825 TC Energy Corporation $TRP

Nykredit A S acquired a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 444,825 shares of the pipeline company’s stock, valued at approximately $29,447,000.

A number of other large investors have also recently made changes to their positions in the business. Sterling Capital Management LLC acquired a new position in shares of TC Energy during the first quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of TC Energy in the 4th quarter worth about $25,000. Trust Co. of Vermont bought a new position in TC Energy in the 2nd quarter valued at about $33,000. McIlrath & Eck LLC bought a new position in TC Energy in the 4th quarter valued at about $32,000. Finally, SWAN Capital LLC acquired a new position in TC Energy during the 3rd quarter valued at about $40,000. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Up 0.6%

TRP opened at $62.87 on Friday. TC Energy Corporation has a fifty-two week low of $49.27 and a fifty-two week high of $71.47. The firm has a market capitalization of $65.51 billion, a P/E ratio of 26.09 and a beta of 0.66. The company’s 50-day moving average is $65.81 and its 200 day moving average is $65.41. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate 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 firm posted $0.82 EPS. Research analysts expect that TC Energy Corporation will post 2.78 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be paid a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Tuesday, September 29th. TC Energy’s payout ratio is presently 102.49%.

Wall Street Analyst Weigh In

TRP has been the subject of a number of recent research reports. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. TD Securities restated a “hold” rating on shares of TC Energy in a report on Thursday, July 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TC Energy in a research report on Friday, July 31st. Jefferies Financial Group raised TC Energy from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $99.00 price target on shares of TC Energy in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, TC Energy currently has a consensus rating of “Moderate Buy” and an average target price of $89.00.

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.