10,403 Shares in TC Energy Corporation $TRP Bought by Chickasaw Capital Management LLC

Key Points

• Chickasaw Capital Management LLC has acquired 10,403 shares of TC Energy Corporation, valued at approximately $508,000, indicating increased institutional interest in the stock.
• TC Energy has declared a quarterly dividend increase to $0.6148 per share, representing an annualized yield of 4.7% for investors.
• Analyst ratings for TC Energy show a consensus of "Moderate Buy," with a target price of $62.00, reflecting a mixed sentiment among brokerages.

Chickasaw Capital Management LLC acquired a new position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 10,403 shares of the pipeline company's stock, valued at approximately $508,000.

A number of other hedge funds have also recently made changes to their positions in TRP. Focus Partners Wealth lifted its stake in shares of TC Energy by 10.5% during the 4th quarter. Focus Partners Wealth now owns 8,517 shares of the pipeline company's stock worth $396,000 after purchasing an additional 808 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of TC Energy during the 4th quarter worth $267,000. Quantinno Capital Management LP lifted its stake in shares of TC Energy by 21.7% during the 4th quarter. Quantinno Capital Management LP now owns 27,800 shares of the pipeline company's stock worth $1,294,000 after purchasing an additional 4,955 shares during the last quarter. Twinbeech Capital LP purchased a new stake in shares of TC Energy during the 4th quarter worth $558,000. Finally, USS Investment Management Ltd lifted its stake in shares of TC Energy by 16.7% during the 4th quarter. USS Investment Management Ltd now owns 187,438 shares of the pipeline company's stock worth $8,716,000 after purchasing an additional 26,768 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on TRP. US Capital Advisors lowered TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Wall Street Zen raised TC Energy from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Barclays reaffirmed an "overweight" rating on shares of TC Energy in a research report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Up 0.5%

TC Energy stock opened at $52.36 on Thursday. The firm has a market cap of $54.45 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 4.99 and a beta of 0.77. TC Energy Corporation has a 52 week low of $40.76 and a 52 week high of $52.57. The business's 50-day moving average price is $49.99 and its 200 day moving average price is $49.01. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same period last year, the company earned $0.79 earnings per share. As a group, sell-side analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a dividend of $0.6148 per share. This is an increase from TC Energy's previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Monday, September 29th. TC Energy's dividend payout ratio (DPR) is currently 85.32%.

TC Energy Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.

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