TC Energy Corporation $TRP Stock: Viewpoint Investment Partners Corp Raises Position

Viewpoint Investment Partners Corp increased its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 60.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,225 shares of the pipeline company’s stock after acquiring an additional 21,868 shares during the period. TC Energy comprises 1.0% of Viewpoint Investment Partners Corp’s holdings, making the stock its 29th largest position. Viewpoint Investment Partners Corp’s holdings in TC Energy were worth $3,206,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Code Waechter LLC lifted its holdings in TC Energy by 17.0% in the third quarter. Code Waechter LLC now owns 12,951 shares of the pipeline company’s stock valued at $748,000 after acquiring an additional 1,879 shares during the period. Lorne Steinberg Wealth Management Inc. boosted its position in TC Energy by 1.2% in the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 211,970 shares of the pipeline company’s stock worth $12,271,000 after purchasing an additional 2,465 shares in the last quarter. Evergreen Capital Management LLC boosted its position in TC Energy by 5.2% in the 3rd quarter. Evergreen Capital Management LLC now owns 63,786 shares of the pipeline company’s stock worth $3,686,000 after purchasing an additional 3,145 shares in the last quarter. Tectonic Advisors LLC boosted its position in TC Energy by 7.2% in the 3rd quarter. Tectonic Advisors LLC now owns 37,477 shares of the pipeline company’s stock worth $2,165,000 after purchasing an additional 2,505 shares in the last quarter. Finally, Royal Fund Management LLC boosted its position in TC Energy by 4.0% in the 3rd quarter. Royal Fund Management LLC now owns 26,052 shares of the pipeline company’s stock worth $1,505,000 after purchasing an additional 1,006 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TRP has been the topic of a number of analyst reports. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research note on Thursday, July 16th. The Goldman Sachs Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Wednesday, September 30th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a report on Tuesday, July 21st. Canadian Imperial Bank of Commerce set a $99.00 price target on shares of TC Energy in a research report on Thursday. Finally, Raymond James Financial restated a “market perform” rating on shares of TC Energy in a research report on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.75.

TC Energy Stock Up 0.2%

TRP stock opened at $62.50 on Tuesday. TC Energy Corporation has a 52 week low of $49.27 and a 52 week 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 50-day simple moving average of $61.26 and a 200-day simple moving average of $63.39. The stock has a market capitalization of $62.50 billion, a P/E ratio of 25.93 and a beta of 0.70.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The firm 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 EPS. Equities analysts forecast that TC Energy Corporation will post 2.78 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be paid a dividend of C$0.88 per share. This represents a $3.51 annualized dividend and a yield of 5.6%. The ex-dividend date is Tuesday, September 29th. TC Energy’s payout ratio is 104.98%.

TC Energy Company Profile

TC Energy Corporation (NYSE: TRP) is a North American energy infrastructure company that develops and operates natural gas pipelines, storage facilities, power-generation assets and related energy infrastructure. Its natural gas pipeline network connects major supply basins with utilities, power producers, industrial customers and local distribution companies.

The company’s operations are primarily located in Canada and the United States, with additional natural gas pipeline interests in Mexico.