Tacita Capital Inc Acquires Shares of 63,719 TC Energy Corporation $TRP

Tacita Capital Inc bought a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 63,719 shares of the pipeline company’s stock, valued at approximately $4,211,000. TC Energy accounts for 2.3% of Tacita Capital Inc’s portfolio, making the stock its 10th largest position.

Other institutional investors have also recently made changes to their positions in the company. Groupe la Francaise lifted its stake in shares of TC Energy by 2.1% in the 1st quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock valued at $459,000 after purchasing an additional 154 shares during the period. Wealthstar Advisors LLC grew its stake in TC Energy by 1.5% in the first quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company’s stock worth $718,000 after purchasing an additional 165 shares during the period. Gold Investment Management Ltd. raised its holdings in TC Energy by 2.0% in the fourth quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock worth $549,000 after purchasing an additional 200 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in TC Energy by 5.7% in the first quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company’s stock worth $245,000 after purchasing an additional 210 shares in the last quarter. Finally, Arax Advisory Partners lifted its position in TC Energy by 7.9% during the fourth quarter. Arax Advisory Partners now owns 3,029 shares of the pipeline company’s stock valued at $167,000 after buying an additional 221 shares during the period. Institutional investors own 83.13% of the company’s stock.

TC Energy Trading Down 2.6%

Shares of NYSE TRP opened at $62.38 on Thursday. The company has a market cap of $64.99 billion, a PE ratio of 25.88 and a beta of 0.66. TC Energy Corporation has a 52-week low of $49.27 and a 52-week high of $71.47. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.54 and a current ratio of 0.61. The firm’s 50 day moving average price is $67.22 and its 200-day moving average price is $65.23.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, topping 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 firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the previous year, the business earned $0.82 earnings per share. On average, equities research analysts expect that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be issued a $0.8775 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 annualized dividend and a yield of 5.6%. TC Energy’s dividend payout ratio (DPR) is currently 102.49%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. Barclays reiterated an “overweight” rating on shares of TC Energy in a research note on Thursday, July 16th. National Bank Financial raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. TD Securities reissued a “hold” rating on shares of TC Energy in a research note on Thursday, July 16th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $99.00 price objective on shares of TC Energy in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.00.

TC Energy 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.