Choreo LLC Raises Position in TC Energy Corporation $TRP

Choreo LLC grew its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 182.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,870 shares of the pipeline company’s stock after purchasing an additional 11,544 shares during the period. Choreo LLC’s holdings in TC Energy were worth $1,185,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of TC Energy during the 2nd quarter valued at approximately $89,000. Massachusetts Financial Services Co. MA raised its holdings in TC Energy by 1.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 523,931 shares of the pipeline company’s stock valued at $34,731,000 after buying an additional 6,931 shares during the period. Cardinal Capital Management Inc. raised its holdings in TC Energy by 0.7% during the 2nd quarter. Cardinal Capital Management Inc. now owns 2,553,583 shares of the pipeline company’s stock valued at $168,773,000 after buying an additional 18,907 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in TC Energy by 21.9% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 8,725 shares of the pipeline company’s stock worth $578,000 after buying an additional 1,570 shares during the last quarter. Finally, First Bank & Trust lifted its position in TC Energy by 1.4% in the second quarter. First Bank & Trust now owns 60,843 shares of the pipeline company’s stock worth $4,033,000 after buying an additional 860 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank Of Canada lifted their price objective on shares of TC Energy from $104.00 to $106.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. TD Securities reaffirmed a “hold” rating on shares of TC Energy in a research note on Thursday, July 16th. Morgan Stanley cut shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. Finally, Barclays reissued an “overweight” rating on shares of TC Energy in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

TC Energy Stock Performance

Shares of TC Energy stock opened at $64.00 on Friday. The stock’s fifty day moving average is $67.53 and its two-hundred day moving average is $65.06. The company has a market capitalization of $66.68 billion, a PE ratio of 26.56 and a beta of 0.66. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. TC Energy Corporation has a 52 week low of $49.27 and a 52 week high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.During the same quarter last year, the firm posted $0.82 earnings per share. As a group, 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 declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be paid a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy’s payout ratio is currently 102.49%.

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.