MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Holdings in TC Energy Corporation $TRP

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 32.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,496,410 shares of the pipeline company’s stock after buying an additional 1,109,897 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.43% of TC Energy worth $244,650,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TRP. Pacifica Partners Inc. raised its position in TC Energy by 14.0% in the third quarter. Pacifica Partners Inc. now owns 1,625 shares of the pipeline company’s stock worth $87,000 after acquiring an additional 200 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its holdings in TC Energy by 2.0% in the third quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock valued at $544,000 after acquiring an additional 200 shares during the period. Kingswood Wealth Advisors LLC lifted its holdings in TC Energy by 2.8% in the third quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock valued at $399,000 after acquiring an additional 202 shares during the period. Checchi Capital Advisers LLC lifted its holdings in TC Energy by 3.4% in the third quarter. Checchi Capital Advisers LLC now owns 6,171 shares of the pipeline company’s stock valued at $336,000 after acquiring an additional 204 shares during the period. Finally, Ewing Morris & Co. Investment Partners Ltd. boosted its position in shares of TC Energy by 0.6% during the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 37,962 shares of the pipeline company’s stock worth $1,873,000 after purchasing an additional 234 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TRP. Barclays reiterated an “overweight” rating on shares of TC Energy in a report on Friday, February 20th. BMO Capital Markets reissued an “outperform” rating on shares of TC Energy in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. TD Securities cut shares of TC Energy from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $72.50.

TC Energy Stock Up 0.8%

Shares of NYSE:TRP opened at $64.24 on Tuesday. TC Energy Corporation has a 12-month low of $43.59 and a 12-month high of $65.57. The stock’s 50-day moving average price is $59.72 and its two-hundred day moving average price is $55.52. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. The firm has a market cap of $66.89 billion, a price-to-earnings ratio of 27.64 and a beta of 0.72.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the firm posted $1.05 EPS. On average, research analysts forecast that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.8775 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, March 31st. TC Energy’s payout ratio is 106.90%.

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.