Healthcare of Ontario Pension Plan Trust Fund Has $353.97 Million Stake in TC Energy Corporation $TRP

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 41.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,654,803 shares of the pipeline company’s stock after selling 3,924,231 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in TC Energy were worth $353,974,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Compound Planning Inc. grew its holdings in TC Energy by 4.2% in the first quarter. Compound Planning Inc. now owns 18,434 shares of the pipeline company’s stock worth $1,154,000 after purchasing an additional 745 shares during the period. Bank of Nova Scotia boosted its position in shares of TC Energy by 8.3% during the 1st quarter. Bank of Nova Scotia now owns 8,380,992 shares of the pipeline company’s stock worth $524,682,000 after purchasing an additional 639,127 shares in the last quarter. Dickmeyer Boyce Financial Management Inc. bought a new position in shares of TC Energy during the 1st quarter worth about $631,000. State of Wyoming grew its stake in shares of TC Energy by 119.9% in the 1st quarter. State of Wyoming now owns 1,082 shares of the pipeline company’s stock valued at $68,000 after buying an additional 590 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of TC Energy by 5.5% in the 1st quarter. Cetera Investment Advisers now owns 146,992 shares of the pipeline company’s stock valued at $9,182,000 after buying an additional 7,609 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on TRP shares. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research report on Thursday, July 16th. Weiss Ratings cut TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Morgan Stanley downgraded TC Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 10th. The Goldman Sachs Group upgraded TC Energy from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $53.00 to $62.00 in a report on Monday, April 20th. Finally, Royal Bank Of Canada upped their target price on TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, TC Energy currently has an average rating of “Moderate Buy” and a consensus price target of $78.50.

TC Energy Trading Up 0.9%

NYSE:TRP opened at $70.58 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57. The firm has a 50-day moving average of $68.61 and a 200-day moving average of $63.93. The company has a market cap of $73.54 billion, a PE ratio of 30.63 and a beta of 0.66. TC Energy Corporation has a one year low of $46.61 and a one year high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the firm earned $0.95 EPS. As a group, equities research analysts expect that TC Energy Corporation will post 2.72 EPS for the current fiscal year.

TC Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 annualized dividend and a dividend yield of 5.0%. TC Energy’s dividend payout ratio is 107.39%.

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.