4,140,461 Shares in TC Energy Corporation $TRP Acquired by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board acquired a new stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,140,461 shares of the pipeline company’s stock, valued at approximately $273,917,000. TC Energy comprises approximately 1.7% of Ontario Teachers Pension Plan Board’s investment portfolio, making the stock its 7th biggest holding.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TRP. Morgan Stanley cut shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. Barclays restated an “overweight” rating on shares of TC Energy in a report on Thursday, July 16th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. TD Securities restated a “hold” rating on shares of TC Energy in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada increased their price target on TC Energy from $104.00 to $106.00 and gave the company an “outperform” rating in a report on Friday, July 31st. 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. According to data from MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

TC Energy Trading Up 1.2%

Shares of TRP stock opened at $64.06 on Wednesday. The company’s 50-day moving average price is $67.35 and its 200-day moving average price is $65.21. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64. The stock has a market cap of $66.74 billion, a price-to-earnings ratio of 26.58 and a beta of 0.66. TC Energy Corporation has a twelve month low of $49.27 and a twelve month high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period last year, the business earned $0.82 earnings per share. As a group, equities analysts predict that TC Energy Corporation will post 2.75 earnings per share for the current year.

TC Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be issued a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 5.5%. The ex-dividend date is Tuesday, September 29th. TC Energy’s payout ratio is presently 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.