Guinness Asset Management LTD Buys 8,468 Shares of TC Energy Corporation $TRP

Guinness Asset Management LTD increased its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 118,790 shares of the pipeline company’s stock after purchasing an additional 8,468 shares during the period. Guinness Asset Management LTD’s holdings in TC Energy were worth $6,636,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Mesirow Financial Investment Management Inc. increased its position in shares of TC Energy by 2.0% in the third quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock worth $544,000 after purchasing an additional 200 shares during the period. Gold Investment Management Ltd. increased its position in shares of TC Energy by 2.0% in the fourth quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock worth $549,000 after purchasing an additional 200 shares during the period. Kennebec Savings Bank increased its position in shares of TC Energy by 2.1% in the fourth quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock worth $542,000 after purchasing an additional 203 shares during the period. Checchi Capital Advisers LLC increased its position in shares of TC Energy by 3.4% in the third quarter. Checchi Capital Advisers LLC now owns 6,171 shares of the pipeline company’s stock worth $336,000 after purchasing an additional 204 shares during the period. Finally, JCIC Asset Management Inc. increased its position in shares of TC Energy by 6.2% in the fourth quarter. JCIC Asset Management Inc. now owns 3,746 shares of the pipeline company’s stock worth $206,000 after purchasing an additional 220 shares during the period. Institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TRP. BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Wall Street Zen upgraded TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Wells Fargo & Company reiterated an “overweight” rating on shares of TC Energy in a research report on Monday, February 16th. Royal Bank Of Canada lifted their target price on TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Finally, TD Securities reiterated a “hold” rating on shares of TC Energy in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Stock Performance

TC Energy stock opened at $70.82 on Friday. TC Energy Corporation has a 12-month low of $46.29 and a 12-month high of $71.47. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The business’s 50-day moving average price is $64.23 and its two-hundred day moving average price is $59.42. The stock has a market cap of $70.82 billion, a PE ratio of 30.74 and a beta of 0.67.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the previous year, the business posted $0.95 earnings per share. As a group, analysts expect that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Tuesday, June 30th. TC Energy’s payout ratio is 109.57%.

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.