8,187 Shares in TC Energy Corporation $TRP Bought by Coppell Advisory Solutions LLC

Coppell Advisory Solutions LLC acquired a new position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,187 shares of the pipeline company’s stock, valued at approximately $543,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new position in TC Energy in the 2nd quarter valued at about $1,148,244,000. GQG Partners LLC purchased a new stake in shares of TC Energy during the second quarter worth about $1,107,936,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of TC Energy during the second quarter worth about $977,976,000. Norges Bank acquired a new position in shares of TC Energy in the fourth quarter worth about $583,732,000. Finally, Legal & General Group Plc acquired a new position in shares of TC Energy in the second quarter worth about $519,612,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Scotiabank reissued an “outperform” rating on shares of TC Energy in a report on Tuesday, July 21st. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research report on Thursday, July 16th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of TC Energy in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

TC Energy Price Performance

Shares of NYSE TRP opened at $62.87 on Friday. The business has a 50 day simple moving average of $65.81 and a 200-day simple moving average of $65.41. TC Energy Corporation has a twelve month low of $49.27 and a twelve month high of $71.47. The company has a market capitalization of $65.51 billion, a price-to-earnings ratio of 26.09 and a beta of 0.66. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. As a group, equities research analysts expect that TC Energy Corporation will post 2.78 earnings per share for the current year.

TC Energy Announces Dividend

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

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.