Ninepoint Partners LP Buys New Shares in TC Energy Corporation $TRP

Ninepoint Partners LP bought a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 111,540 shares of the pipeline company’s stock, valued at approximately $7,394,000. TC Energy makes up 0.6% of Ninepoint Partners LP’s holdings, making the stock its 26th biggest holding.

Several other large investors have also recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board acquired a new position in shares of TC Energy in the second quarter valued at $273,917,000. Generali Asset Management SPA SGR boosted its stake in TC Energy by 261.0% during the fourth quarter. Generali Asset Management SPA SGR now owns 74,906 shares of the pipeline company’s stock worth $4,121,000 after buying an additional 54,154 shares in the last quarter. BROOKFIELD Corp ON increased its holdings in TC Energy by 8.9% in the 1st quarter. BROOKFIELD Corp ON now owns 1,735,576 shares of the pipeline company’s stock valued at $108,647,000 after buying an additional 141,556 shares during the period. Vanguard Group Inc. increased its holdings in 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 buying an additional 980,221 shares during the period. Finally, Miller Howard Investments Inc. NY raised its stake in shares of TC Energy by 14.0% in the 1st quarter. Miller Howard Investments Inc. NY now owns 1,294,518 shares of the pipeline company’s stock valued at $81,037,000 after buying an additional 158,686 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of TC Energy stock opened at $63.07 on Friday. The stock has a market capitalization of $65.72 billion, a price-to-earnings ratio of 26.17 and a beta of 0.66. The firm’s 50-day moving average price is $67.09 and its two-hundred day moving average price is $65.26. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64. TC Energy Corporation has a 1-year low of $49.27 and a 1-year high of $71.47.

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

TC Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be paid a $0.8775 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. TC Energy’s dividend payout ratio (DPR) is 102.49%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of TC Energy from $104.00 to $106.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. TD Securities restated a “hold” rating on shares of TC Energy in a research note on Thursday, July 16th. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st. Barclays reissued an “overweight” rating on shares of TC Energy in a report on Thursday, July 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of TC Energy in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.00.

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.