Midwest Professional Planners LTD. Buys 14,643 Shares of TC Energy Corporation $TRP

Midwest Professional Planners LTD. grew its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 89.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,954 shares of the pipeline company’s stock after purchasing an additional 14,643 shares during the period. Midwest Professional Planners LTD.’s holdings in TC Energy were worth $2,052,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. AQR Capital Management LLC lifted its position in 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 last quarter. Focus Partners Wealth lifted its holdings 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 worth $588,000 after acquiring an additional 3,929 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of TC Energy by 200.7% during the 1st quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock worth $1,269,000 after purchasing an additional 17,939 shares during the period. EverSource Wealth Advisors LLC raised its position in TC Energy by 50.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,706 shares of the pipeline company’s stock worth $181,000 after purchasing an additional 1,243 shares during the period. Finally, Guggenheim Capital LLC raised its position in TC Energy by 9.9% in the 2nd quarter. Guggenheim Capital LLC now owns 16,758 shares of the pipeline company’s stock worth $818,000 after purchasing an additional 1,511 shares during the period. Institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 1.0%

NYSE:TRP opened at $63.18 on Wednesday. The firm has a 50-day simple moving average of $66.09 and a 200-day simple moving average of $65.41. TC Energy Corporation has a one year low of $49.27 and a one year high of $71.47. The firm has a market cap of $65.83 billion, a P/E ratio of 26.22 and a beta of 0.66. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.54 and a current ratio of 0.61.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same period last year, the company posted $0.82 earnings per share. Equities analysts anticipate that TC Energy Corporation will post 2.78 EPS for the current fiscal year.

TC Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be issued a $0.8775 dividend. The ex-dividend date 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 currently 102.49%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TRP. Morgan Stanley cut TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Finally, Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.