Quantinno Capital Management LP Acquires 24,114 Shares of TC Energy Corporation $TRP

Quantinno Capital Management LP increased its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 19.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,547 shares of the pipeline company’s stock after buying an additional 24,114 shares during the quarter. Quantinno Capital Management LP’s holdings in TC Energy were worth $9,296,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in TC Energy by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock worth $2,632,200,000 after acquiring an additional 980,221 shares during the period. FIL Ltd grew its position in shares of TC Energy by 3.9% during the 4th quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company’s stock valued at $1,558,669,000 after acquiring an additional 1,052,166 shares during the period. TD Asset Management Inc grew its position in shares of TC Energy by 6.3% during the 4th quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock valued at $1,150,656,000 after acquiring an additional 1,244,525 shares during the period. GQG Partners LLC increased its stake in shares of TC Energy by 586.5% in the 4th quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock worth $890,711,000 after purchasing an additional 13,801,371 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in TC Energy by 63.2% in the 4th quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company’s stock worth $846,288,000 after purchasing an additional 5,956,263 shares during the period. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Down 0.7%

Shares of TRP stock opened at $65.38 on Wednesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54. TC Energy Corporation has a one year low of $48.49 and a one year high of $71.47. The company’s fifty day moving average price is $68.20 and its 200-day moving average price is $64.64. The company has a market capitalization of $68.12 billion, a price-to-earnings ratio of 27.13 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its 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 net margin of 22.91% and a return on equity of 11.10%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the firm posted $0.82 EPS. Sell-side analysts expect that TC Energy Corporation will post 2.73 EPS for the current fiscal year.

TC Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be paid a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.4%. TC Energy’s dividend payout ratio is 102.49%.

Analyst Upgrades and Downgrades

TRP has been the topic of several analyst reports. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research report on Tuesday, July 21st. TD Securities restated a “hold” rating on shares of TC Energy in a research report on Thursday, July 16th. The Goldman Sachs Group raised TC Energy from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $53.00 to $62.00 in a research note on Monday, April 20th. National Bank Financial raised TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Finally, Morgan Stanley downgraded TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, TC Energy has an average rating of “Moderate Buy” and an average price target of $89.00.

TC Energy Company 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.