TC Energy Corporation $TRP Shares Bought by TD Asset Management Inc

TD Asset Management Inc raised its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 6.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,868,772 shares of the pipeline company’s stock after purchasing an additional 1,244,525 shares during the period. TC Energy comprises 0.9% of TD Asset Management Inc’s holdings, making the stock its 24th largest position. TD Asset Management Inc owned about 2.01% of TC Energy worth $1,150,656,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TRP. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in TC Energy in the fourth quarter valued at approximately $25,000. Trust Co. of Vermont acquired a new stake in TC Energy in the fourth quarter valued at approximately $28,000. Westside Investment Management Inc. grew its holdings in TC Energy by 100.0% in the third quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 297 shares during the period. McIlrath & Eck LLC acquired a new stake in TC Energy in the fourth quarter valued at approximately $32,000. Finally, SWAN Capital LLC purchased a new position in shares of TC Energy in the third quarter valued at approximately $40,000. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Price Performance

NYSE:TRP opened at $67.83 on Thursday. TC Energy Corporation has a one year low of $46.29 and a one year high of $71.47. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65. The stock has a market cap of $67.83 billion, a PE ratio of 29.44 and a beta of 0.66. The stock has a 50 day moving average price of $64.91 and a 200 day moving average price of $60.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the firm earned $0.95 earnings per share. Equities research analysts expect that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s dividend payout ratio (DPR) is currently 109.57%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TRP. Weiss Ratings downgraded TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Citigroup restated a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Wall Street Zen upgraded TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, The Goldman Sachs Group upgraded TC Energy from a “sell” rating to a “neutral” rating and raised their target price for the company from $53.00 to $62.00 in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, TC Energy presently has an average rating of “Moderate Buy” and an average price target of $78.50.

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.