TC Energy Corporation $TRP is TD Waterhouse Canada Inc.’s 10th Largest Position

TD Waterhouse Canada Inc. grew its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 3.0% in the 2nd quarter, Holdings Channel reports. The fund owned 10,619,936 shares of the pipeline company’s stock after acquiring an additional 312,027 shares during the period. TC Energy accounts for about 1.8% of TD Waterhouse Canada Inc.’s investment portfolio, making the stock its 10th biggest position. TD Waterhouse Canada Inc.’s holdings in TC Energy were worth $695,799,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. NEOS Investment Management LLC lifted its stake in shares of TC Energy by 63.1% in the second quarter. NEOS Investment Management LLC now owns 776,001 shares of the pipeline company’s stock worth $51,371,000 after acquiring an additional 300,247 shares in the last quarter. Ewing Morris & Co. Investment Partners Ltd. grew its stake in TC Energy by 1.0% during the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 39,533 shares of the pipeline company’s stock valued at $2,642,000 after purchasing an additional 377 shares in the last quarter. Nykredit A S acquired a new stake in TC Energy during the 2nd quarter valued at approximately $29,447,000. Coppell Advisory Solutions LLC purchased a new stake in TC Energy during the 2nd quarter worth approximately $543,000. Finally, Midwest Professional Planners LTD. increased its holdings in TC Energy by 89.8% during the 2nd quarter. Midwest Professional Planners LTD. now owns 30,954 shares of the pipeline company’s stock worth $2,052,000 after purchasing an additional 14,643 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on TRP. Royal Bank Of Canada increased their target price on TC Energy from $104.00 to $106.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Morgan Stanley lowered shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a report on Tuesday, July 21st. BMO Capital Markets reiterated an “outperform” rating and set a $99.00 price objective on shares of TC Energy in a research note on Friday, July 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of TC Energy in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.00.

TC Energy Trading Up 0.6%

NYSE TRP opened at $62.87 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.54 and a current ratio of 0.61. TC Energy Corporation has a one year low of $49.27 and a one year high of $71.47. The company has a 50-day simple moving average of $65.81 and a 200-day simple moving average of $65.41. The firm has a market capitalization of $65.51 billion, a PE ratio of 26.09 and a beta of 0.66.

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 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 for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. On average, equities analysts forecast that TC Energy Corporation will post 2.78 earnings per share for the current year.

TC Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be issued a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $3.51 annualized dividend and a dividend yield of 5.6%. TC Energy’s dividend payout ratio is 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.