Caisse de depot et placement du Quebec Invests $283.91 Million in TC Energy Corporation $TRP

Caisse de depot et placement du Quebec acquired a new stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the second quarter, Holdings Channel.com reports. The firm acquired 4,288,745 shares of the pipeline company’s stock, valued at approximately $283,911,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC bought a new position in shares of TC Energy during the 1st quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in TC Energy in the fourth quarter valued at $25,000. Trust Co. of Vermont acquired a new stake in shares of TC Energy in the 2nd quarter valued at about $33,000. McIlrath & Eck LLC acquired a new stake in TC Energy in the fourth quarter valued at approximately $32,000. Finally, SWAN Capital LLC acquired a new stake in TC Energy in the third quarter valued at approximately $40,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Trading Down 0.3%

NYSE TRP opened at $61.85 on Wednesday. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64. The business has a fifty day simple moving average of $66.66 and a 200 day simple moving average of $65.32. TC Energy Corporation has a 12 month low of $49.27 and a 12 month high of $71.47. The firm has a market capitalization of $64.45 billion, a P/E ratio of 25.67 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the previous year, the firm earned $0.82 EPS. On average, analysts predict that TC Energy Corporation will post 2.78 EPS for the current fiscal year.

TC Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be issued a dividend of $0.8775 per share. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 annualized dividend and a yield of 5.7%. TC Energy’s payout ratio is 102.49%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TRP shares. BMO Capital Markets reiterated an “outperform” rating and issued a $99.00 target price on shares of TC Energy in a report on Friday, July 31st. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. National Bank Financial upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Morgan Stanley downgraded shares of TC Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 10th. Finally, Royal Bank Of Canada raised their price objective on shares of TC Energy from $104.00 to $106.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.00.

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.