OMERS ADMINISTRATION Corp Lowers Stock Position in TC Energy Corporation $TRP

OMERS ADMINISTRATION Corp cut its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 9.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,180,000 shares of the pipeline company’s stock after selling 240,000 shares during the period. OMERS ADMINISTRATION Corp’s holdings in TC Energy were worth $136,075,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of TC Energy during the 4th quarter worth approximately $25,000. Sterling Capital Management LLC purchased a new stake in TC Energy in the first quarter valued at approximately $26,000. Trust Co. of Vermont purchased a new stake in TC Energy in the fourth quarter valued at approximately $28,000. McIlrath & Eck LLC acquired a new position in TC Energy during the fourth quarter worth $32,000. Finally, SWAN Capital LLC acquired a new position in TC Energy during the third quarter worth $40,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Performance

Shares of TRP stock opened at $70.58 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. TC Energy Corporation has a 52 week low of $46.61 and a 52 week high of $71.47. The stock has a market capitalization of $73.54 billion, a PE ratio of 30.63 and a beta of 0.66. The firm has a 50 day moving average of $68.61 and a two-hundred day moving average of $63.93.

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, topping the consensus estimate of $0.70 by $0.02. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. On average, research analysts predict that TC Energy Corporation will post 2.72 EPS for the current fiscal year.

TC Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s payout ratio is presently 107.39%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TRP. TD Securities reaffirmed a “hold” rating on shares of TC Energy in a research note on Thursday, July 16th. Weiss Ratings lowered TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Barclays restated an “overweight” rating on shares of TC Energy in a report on Thursday, July 16th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. Finally, Morgan Stanley lowered shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.50.

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.