Bell Bank Buys 8,826 Shares of TC Energy Corporation $TRP

Bell Bank raised its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 4.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 193,881 shares of the pipeline company’s stock after acquiring an additional 8,826 shares during the quarter. Bell Bank’s holdings in TC Energy were worth $11,202,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of TRP. Canada Pension Plan Investment Board acquired a new position in TC Energy during the second quarter worth $1,148,244,000. GQG Partners LLC acquired a new stake in TC Energy during the second quarter worth $1,107,936,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in TC Energy in the 2nd quarter valued at about $977,976,000. Legal & General Group Plc acquired a new position in shares of TC Energy in the 2nd quarter worth approximately $519,612,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of TC Energy in the second quarter valued at $362,982,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays reiterated an “overweight” rating on shares of TC Energy in a report on Thursday, July 16th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. Royal Bank Of Canada reiterated a “moderate buy” rating and issued a $106.00 price target on shares of TC Energy in a research report on Friday, September 11th. The Goldman Sachs Group upgraded TC Energy from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Wednesday, September 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of TC Energy in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $92.00.

TC Energy Trading Up 1.8%

Shares of TRP opened at $61.77 on Wednesday. TC Energy Corporation has a 1-year low of $49.27 and a 1-year high of $71.47. The stock has a market cap of $61.77 billion, a price-to-earnings ratio of 22.82 and a beta of 0.70. The firm has a 50 day simple moving average of $61.32 and a 200-day simple moving average of $64.73. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07. TC Energy had a return on equity of 11.10% and a net margin of 22.91%. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the prior year, the business earned $0.82 earnings per share. Equities analysts forecast that TC Energy Corporation will post 2.77 EPS for the current fiscal year.

TC Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be given a C$0.88 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.7%. TC Energy’s payout ratio is currently 104.98%.

TC Energy Company Profile

TC Energy Corporation (NYSE: TRP) is a North American energy infrastructure company that develops and operates natural gas pipelines, storage facilities, power-generation assets and related energy infrastructure. Its natural gas pipeline network connects major supply basins with utilities, power producers, industrial customers and local distribution companies.

The company’s operations are primarily located in Canada and the United States, with additional natural gas pipeline interests in Mexico.