TC Energy Corporation $TRP Shares Acquired by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. increased its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 5.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,269 shares of the pipeline company’s stock after acquiring an additional 14,553 shares during the period. Harvest Portfolios Group Inc.’s holdings in TC Energy were worth $12,657,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Savant Capital LLC purchased a new stake in TC Energy during the 2nd quarter worth about $271,000. Kayne Anderson Capital Advisors LP grew its position in shares of TC Energy by 3.2% during the second quarter. Kayne Anderson Capital Advisors LP now owns 4,616,856 shares of the pipeline company’s stock worth $225,256,000 after buying an additional 142,157 shares in the last quarter. Achmea Investment Management B.V. increased its stake in shares of TC Energy by 22.7% during the second quarter. Achmea Investment Management B.V. now owns 551,113 shares of the pipeline company’s stock worth $26,851,000 after buying an additional 102,043 shares during the period. SouthState Corp increased its stake in shares of TC Energy by 2,757.1% during the second quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock worth $49,000 after buying an additional 965 shares during the period. Finally, Heronetta Management L.P. raised its holdings in TC Energy by 6.1% in the second quarter. Heronetta Management L.P. now owns 135,316 shares of the pipeline company’s stock valued at $6,602,000 after acquiring an additional 7,830 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Performance

Shares of TRP stock opened at $50.49 on Friday. The stock’s 50-day moving average is $52.17 and its two-hundred day moving average is $50.27. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. TC Energy Corporation has a 1 year low of $43.51 and a 1 year high of $55.37. The firm has a market cap of $52.54 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 4.82 and a beta of 0.73.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a $0.85 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date is Wednesday, December 31st. TC Energy’s dividend payout ratio (DPR) is presently 84.30%.

Analyst Ratings Changes

A number of equities research analysts have commented on TRP shares. Barclays reissued an “overweight” rating on shares of TC Energy in a research report on Tuesday, October 14th. Weiss Ratings restated a “buy (b-)” rating on shares of TC Energy in a research note on Wednesday, October 8th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research report on Monday, October 20th. TD Securities reiterated a “buy” rating on shares of TC Energy in a report on Friday, October 17th. Finally, US Capital Advisors cut TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, TC Energy currently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

TC Energy Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.