OMERS ADMINISTRATION Corp Increases Position in TC Energy Corporation $TRP

OMERS ADMINISTRATION Corp lifted its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 49.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,420,000 shares of the pipeline company’s stock after purchasing an additional 802,190 shares during the period. OMERS ADMINISTRATION Corp owned about 0.23% of TC Energy worth $133,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mesirow Financial Investment Management Inc. increased its stake in shares of TC Energy by 2.0% in the third quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock worth $544,000 after purchasing an additional 200 shares in the last quarter. Gold Investment Management Ltd. increased its stake in shares of 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. Kennebec Savings Bank increased its stake in shares of TC Energy by 2.1% in the fourth quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock worth $542,000 after purchasing an additional 203 shares in the last quarter. JCIC Asset Management Inc. increased its stake in shares of TC Energy by 6.2% in the fourth quarter. JCIC Asset Management Inc. now owns 3,746 shares of the pipeline company’s stock worth $206,000 after purchasing an additional 220 shares in the last quarter. Finally, Arax Advisory Partners increased its stake in shares of TC Energy by 7.9% in the fourth quarter. Arax Advisory Partners now owns 3,029 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 221 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

Shares of NYSE:TRP opened at $69.13 on Tuesday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65. The firm has a fifty day moving average price of $65.80 and a 200 day moving average price of $61.19. TC Energy Corporation has a fifty-two week low of $46.29 and a fifty-two week high of $71.47. The firm has a market cap of $69.13 billion, a price-to-earnings ratio of 30.01 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating 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 analyst estimates of $2.20 billion. During the same quarter last year, the business earned $0.95 earnings per share. As a group, sell-side analysts expect that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.8775 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 annualized dividend and a yield of 5.1%. TC Energy’s dividend payout ratio (DPR) is 109.57%.

Wall Street Analysts Forecast Growth

TRP has been the subject of a number of research reports. TD Securities restated a “hold” rating on shares of TC Energy in a research report on Monday, May 4th. BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Barclays restated an “overweight” rating on shares of TC Energy in a research report on Monday, May 4th. Wells Fargo & Company restated an “overweight” rating on shares of TC Energy in a research report on Monday, February 16th. Finally, Morgan Stanley lowered shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, TC Energy presently has an average rating of “Moderate Buy” and a consensus price target of $78.50.

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.