JPMorgan Chase & Co. Grows Stake in TC Energy Corporation $TRP

JPMorgan Chase & Co. lifted its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 4.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,237,084 shares of the pipeline company’s stock after purchasing an additional 512,759 shares during the quarter. JPMorgan Chase & Co. owned about 1.08% of TC Energy worth $611,410,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its holdings in shares of TC Energy by 54.0% in the 1st quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock valued at $538,000 after acquiring an additional 3,892 shares in the last quarter. Focus Partners Wealth raised its stake in TC Energy by 46.1% in the first quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock valued at $588,000 after purchasing an additional 3,929 shares in the last quarter. Intech Investment Management LLC lifted its position in TC Energy by 200.7% during the first quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock valued at $1,269,000 after purchasing an additional 17,939 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in TC Energy by 6.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,584 shares of the pipeline company’s stock worth $712,000 after buying an additional 873 shares in the last quarter. Finally, Yousif Capital Management LLC increased its holdings in shares of TC Energy by 8.1% in the 2nd quarter. Yousif Capital Management LLC now owns 14,498 shares of the pipeline company’s stock worth $707,000 after buying an additional 1,090 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

TC Energy stock opened at $62.23 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.60. The firm has a market cap of $64.80 billion, a P/E ratio of 26.78 and a beta of 0.73. TC Energy Corporation has a 1-year low of $43.59 and a 1-year high of $63.94. The firm has a 50-day moving average of $56.49 and a 200-day moving average of $53.79.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. TC Energy had a return on equity of 10.47% and a net margin of 23.04%.The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the prior year, the company posted $1.05 EPS. Sell-side analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 dividend on an annualized basis and a yield of 5.6%. TC Energy’s payout ratio is 106.90%.

Wall Street Analyst Weigh In

TRP has been the subject of a number of research analyst reports. Wells Fargo & Company reaffirmed an “overweight” rating on shares of TC Energy in a report on Monday. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a report on Monday, December 29th. BMO Capital Markets reiterated an “outperform” rating on shares of TC Energy in a research report on Tuesday. Canadian Imperial Bank of Commerce upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

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.