Two Sigma Securities LLC Takes $992,000 Position in TC Energy Corporation $TRP

Two Sigma Securities LLC bought a new stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 14,970 shares of the pipeline company’s stock, valued at approximately $992,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TRP. FIL Ltd boosted its stake in TC Energy by 3.9% in the fourth quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company’s stock worth $1,558,669,000 after buying an additional 1,052,166 shares in the last quarter. TD Asset Management Inc increased its stake in shares of TC Energy by 6.3% in the fourth quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock worth $1,150,656,000 after buying an additional 1,244,525 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of TC Energy in the second quarter worth $1,148,244,000. GQG Partners LLC bought a new stake in TC Energy in the 2nd quarter worth $1,107,936,000. Finally, Deutsche Bank AG grew its holdings in TC Energy by 1.3% in the 2nd quarter. Deutsche Bank AG now owns 15,821,521 shares of the pipeline company’s stock worth $1,048,809,000 after acquiring an additional 196,543 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Up 1.1%

TRP stock opened at $62.57 on Tuesday. 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 $65.19 billion, a PE ratio of 25.96 and a beta of 0.66. The business has a 50 day moving average of $66.21 and a 200 day moving average of $65.39.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) 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 firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. On average, research analysts forecast that TC Energy Corporation will post 2.78 EPS for the current fiscal year.

TC Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be given 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 yield of 5.6%. TC Energy’s payout ratio is 102.49%.

Wall Street Analyst Weigh In

TRP has been the subject of a number of recent analyst reports. Royal Bank Of Canada upped their price target on TC Energy from $104.00 to $106.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. TD Securities restated a “hold” rating on shares of TC Energy in a report on Thursday, July 16th. Morgan Stanley lowered TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of TC Energy in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

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.