TC Energy Corporation $TRP Position Boosted by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. boosted its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,553,583 shares of the pipeline company’s stock after purchasing an additional 18,907 shares during the period. TC Energy makes up 4.1% of Cardinal Capital Management Inc.’s portfolio, making the stock its 7th largest position. Cardinal Capital Management Inc.’s holdings in TC Energy were worth $168,773,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in shares of TC Energy by 54.0% in the first quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock worth $538,000 after buying an additional 3,892 shares during the period. Focus Partners Wealth lifted its stake in shares of TC Energy by 46.1% in the 1st quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock valued at $588,000 after acquiring an additional 3,929 shares during the last quarter. Intech Investment Management LLC boosted its holdings in TC Energy by 200.7% during the 1st quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock valued at $1,269,000 after acquiring an additional 17,939 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in TC Energy by 50.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,706 shares of the pipeline company’s stock valued at $181,000 after acquiring an additional 1,243 shares during the period. Finally, Guggenheim Capital LLC grew its position in TC Energy by 9.9% during the 2nd quarter. Guggenheim Capital LLC now owns 16,758 shares of the pipeline company’s stock worth $818,000 after acquiring an additional 1,511 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TRP shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TC Energy in a research note on Friday, July 31st. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Thursday, July 16th. Morgan Stanley cut shares of TC Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 10th. Finally, TD Securities reaffirmed a “hold” rating on shares of TC Energy in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, TC Energy has an average rating of “Moderate Buy” and a consensus price target of $89.00.

TC Energy Stock Up 0.5%

TRP stock opened at $63.65 on Wednesday. TC Energy Corporation has a twelve month low of $49.27 and a twelve month high of $71.47. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. The firm has a market cap of $66.32 billion, a PE ratio of 26.41 and a beta of 0.66. The business has a 50 day moving average of $67.82 and a 200 day moving average of $64.96.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the previous year, the business earned $0.82 earnings per share. On average, research analysts forecast that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be given a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy’s payout ratio is currently 102.49%.

TC Energy 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.