Osaic Holdings Inc. Boosts Holdings in TC Energy Corporation $TRP

Osaic Holdings Inc. grew its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 14.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,741 shares of the pipeline company’s stock after purchasing an additional 12,827 shares during the quarter. Osaic Holdings Inc.’s holdings in TC Energy were worth $4,802,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TRP. FORA Capital LLC acquired a new stake in TC Energy in the 1st quarter worth approximately $776,000. Fractal Investments LLC increased its stake in TC Energy by 34.4% during the 2nd quarter. Fractal Investments LLC now owns 649,000 shares of the pipeline company’s stock valued at $31,665,000 after purchasing an additional 166,000 shares in the last quarter. Miller Howard Investments Inc. NY raised its holdings in shares of TC Energy by 93.8% in the second quarter. Miller Howard Investments Inc. NY now owns 1,153,849 shares of the pipeline company’s stock worth $56,296,000 after buying an additional 558,498 shares during the last quarter. Norges Bank acquired a new stake in shares of TC Energy during the second quarter worth $493,434,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of TC Energy during the first quarter worth $833,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Up 1.8%

NYSE TRP opened at $55.84 on Wednesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63. The business has a fifty day moving average price of $53.05 and a 200 day moving average price of $51.25. TC Energy Corporation has a one year low of $43.51 and a one year high of $55.98. The company has a market cap of $58.12 billion, a P/E ratio of 24.07 and a beta of 0.70.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.56. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $2.63 billion. TC Energy had a return on equity of 10.61% and a net margin of 23.86%.During the same period last year, the company earned $1.03 EPS. Research analysts anticipate 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 Friday, January 30th. Investors of record on Wednesday, December 31st will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Wednesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio is 106.47%.

Wall Street Analyst Weigh In

A number of analysts have commented on TRP shares. Royal Bank Of Canada lifted their price target on TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a report on Thursday, November 20th. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research report on Monday, October 20th. Barclays reissued an “overweight” rating on shares of TC Energy in a research report on Tuesday, October 14th. Finally, Cibc World Mkts cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

TC Energy Company 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.