40,969 TC Energy Corporation $TRP Shares Bought by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. raised its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 0.4% in the third quarter, Holdings Channel reports. The firm owned 10,660,905 shares of the pipeline company’s stock after buying an additional 40,969 shares during the period. TC Energy accounts for 1.6% of TD Waterhouse Canada Inc.’s investment portfolio, making the stock its 15th largest holding. TD Waterhouse Canada Inc.’s holdings in TC Energy were worth $623,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in TRP. Canada Pension Plan Investment Board bought a new stake in shares of TC Energy in the 2nd quarter valued at approximately $1,148,244,000. GQG Partners LLC bought a new position in TC Energy during the second quarter valued at approximately $1,107,936,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of TC Energy in the 2nd quarter valued at $977,976,000. Legal & General Group Plc bought a new stake in TC Energy in the second quarter worth $519,612,000. Finally, The Manufacturers Life Insurance Company bought a new stake in TC Energy in the second quarter worth $362,982,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Performance

Shares of TC Energy stock traded up $1.92 on Friday, reaching $61.59. The stock had a trading volume of 2,986,324 shares, compared to its average volume of 3,357,952. The business’s 50-day moving average price is $61.41 and its two-hundred day moving average price is $64.74. 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 Corporation has a fifty-two week low of $49.27 and a fifty-two week high of $71.47. The stock has a market cap of $61.59 billion, a P/E ratio of 25.56 and a beta of 0.70.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data 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 business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the prior year, the firm earned $0.82 EPS. On average, sell-side analysts forecast that TC Energy Corporation will post 2.77 EPS for the current 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 given a dividend of C$0.88 per share. 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 5.7%. TC Energy’s payout ratio is currently 104.98%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Raymond James Financial restated a “market perform” rating on shares of TC Energy in a report on Wednesday, September 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TC Energy in a research report on Friday, July 31st. 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, US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, TC Energy has a consensus rating of “Moderate Buy” and an average target price of $92.00.

TC Energy Company Profile

TC Energy Corporation is an energy infrastructure company that develops and operates natural gas pipeline, storage and power-generation assets. Its pipeline network transports natural gas from producing regions to utilities, industrial customers, power generators and export markets, while its storage facilities help support seasonal and daily demand.

The company’s operations are concentrated in Canada, the United States and Mexico. Its major systems include the Canadian Mainline, which connects Western Canadian natural gas supplies with markets in Eastern Canada and the United States, as well as U.S.