Infrastructure Capital Advisors LLC Has $5.71 Million Stake in TC Energy Corporation $TRP

Infrastructure Capital Advisors LLC lifted its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 265.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,257 shares of the pipeline company’s stock after buying an additional 66,257 shares during the period. Infrastructure Capital Advisors LLC’s holdings in TC Energy were worth $5,713,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of TRP. Vanguard Group Inc. increased its stake in shares of TC Energy by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock valued at $2,632,200,000 after purchasing an additional 980,221 shares during the last quarter. FIL Ltd lifted its stake in TC Energy by 3.9% in the 4th quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company’s stock valued at $1,558,669,000 after purchasing an additional 1,052,166 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of TC Energy by 6.3% during 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 in the last quarter. GQG Partners LLC lifted 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 valued at $890,711,000 after acquiring an additional 13,801,371 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of TC Energy by 63.2% during the fourth quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company’s stock valued at $846,288,000 after purchasing an additional 5,956,263 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TRP shares. The Goldman Sachs Group upgraded shares of TC Energy from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $53.00 to $62.00 in a research report on Monday, April 20th. Weiss Ratings downgraded shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, TC Energy currently has a consensus rating of “Moderate Buy” and an average target price of $78.50.

TC Energy Stock Down 3.3%

Shares of NYSE TRP opened at $68.29 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The company’s fifty day simple moving average is $68.59 and its 200 day simple moving average is $64.09. The firm has a market cap of $71.15 billion, a PE ratio of 29.64 and a beta of 0.66. TC Energy Corporation has a 12-month low of $46.61 and a 12-month high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the company posted $0.95 EPS. As a group, sell-side analysts forecast that TC Energy Corporation will post 2.72 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Tuesday, June 30th. TC Energy’s dividend payout ratio (DPR) is currently 107.39%.

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.