849,933 Shares in TC Energy Corporation $TRP Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp acquired a new stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the second quarter, according to its most recent filing with the SEC. The fund acquired 849,933 shares of the pipeline company’s stock, valued at approximately $56,265,000. OMERS ADMINISTRATION Corp owned approximately 0.08% of TC Energy at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRP. Ontario Teachers Pension Plan Board bought a new position in shares of TC Energy in the second quarter worth $273,917,000. Generali Asset Management SPA SGR raised its holdings in shares of TC Energy by 261.0% during the 4th quarter. Generali Asset Management SPA SGR now owns 74,906 shares of the pipeline company’s stock valued at $4,121,000 after buying an additional 54,154 shares in the last quarter. BROOKFIELD Corp ON raised its stake in shares of TC Energy by 8.9% during the first quarter. BROOKFIELD Corp ON now owns 1,735,576 shares of the pipeline company’s stock worth $108,647,000 after acquiring an additional 141,556 shares in the last quarter. Bank of America Corp DE lifted its stake in TC Energy by 10.3% in the first quarter. Bank of America Corp DE now owns 3,909,668 shares of the pipeline company’s stock worth $244,745,000 after purchasing an additional 364,575 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of TC Energy by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock valued at $2,632,200,000 after acquiring an additional 980,221 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of TC Energy in a research report on Friday, July 31st. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st. Royal Bank Of Canada raised their target price on shares of TC Energy from $104.00 to $106.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $99.00 target price on shares of TC Energy in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, TC Energy has a consensus rating of “Moderate Buy” and an average target price of $89.00.

TC Energy Price Performance

Shares of NYSE TRP opened at $62.04 on Monday. TC Energy Corporation has a 1 year low of $49.27 and a 1 year high of $71.47. The stock has a market capitalization of $64.64 billion, a P/E ratio of 25.74 and a beta of 0.66. The company’s 50-day moving average is $66.95 and its 200 day moving average is $65.29. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same period last year, the business posted $0.82 earnings per share. On average, sell-side analysts expect that TC Energy Corporation will post 2.78 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. Stockholders of record on Tuesday, September 29th will be paid a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Tuesday, September 29th. TC Energy’s dividend payout ratio (DPR) is presently 102.49%.

TC Energy Company 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.