Korea Investment CORP Grows Holdings in TC Energy Corporation $TRP

Korea Investment CORP grew its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 7.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 615,035 shares of the pipeline company’s stock after purchasing an additional 41,952 shares during the period. Korea Investment CORP owned 0.06% of TC Energy worth $29,965,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Hilltop National Bank purchased a new position in shares of TC Energy during the second quarter valued at approximately $32,000. Harbor Asset Planning Inc. acquired a new position in TC Energy in the 2nd quarter valued at $43,000. Truvestments Capital LLC purchased a new position in shares of TC Energy during the 1st quarter worth $45,000. SouthState Corp lifted its stake in shares of TC Energy by 2,757.1% during the 2nd quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock worth $49,000 after purchasing an additional 965 shares during the period. Finally, SVB Wealth LLC acquired a new stake in shares of TC Energy during the first quarter worth $72,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TRP shares. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Wall Street Zen downgraded shares of TC Energy from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. BMO Capital Markets raised shares of TC Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, November 7th. US Capital Advisors downgraded shares of TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Finally, Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a research note on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

TC Energy Stock Up 0.2%

Shares of NYSE:TRP opened at $54.09 on Friday. The stock has a 50-day simple moving average of $52.80 and a 200-day simple moving average of $50.74. The stock has a market capitalization of $56.30 billion, a P/E ratio of 18.46, a PEG ratio of 4.82 and a beta of 0.73. TC Energy Corporation has a 1 year low of $43.51 and a 1 year high of $55.37. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.56. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the previous year, the company posted $1.03 earnings per share. Equities analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a $0.85 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $3.40 annualized dividend and a yield of 6.3%. This is an increase from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s payout ratio is currently 103.88%.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.