111,540 Shares in TC Energy Corporation $TRP Acquired by Ninepoint Partners LP

Ninepoint Partners LP bought a new stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 111,540 shares of the pipeline company's stock, valued at approximately $7,394,000. TC Energy comprises approximately 0.6% of Ninepoint Partners LP's portfolio, making the stock its 26th biggest holding.

Several other large investors also recently added to or reduced their stakes in the business. Sterling Capital Management LLC bought a new position in shares of TC Energy during the 1st quarter valued at $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in TC Energy in the fourth quarter worth $25,000. Trust Co. of Vermont bought a new stake in TC Energy in the second quarter worth $33,000. McIlrath & Eck LLC acquired a new position in TC Energy during the fourth quarter worth $32,000. Finally, SWAN Capital LLC acquired a new position in TC Energy during the third quarter worth $40,000. 83.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

TRP has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price target on TC Energy from $104.00 to $106.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Weiss Ratings reissued a "buy (b)" rating on shares of TC Energy in a research note on Friday, July 31st. National Bank Financial upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, May 4th. Morgan Stanley cut TC Energy from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, June 10th. Finally, Barclays reiterated an "overweight" rating on shares of TC Energy in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $89.00.

TC Energy Trading Up 1.1%

TC Energy stock opened at $63.07 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.54 and a current ratio of 0.61. The business's 50-day simple moving average is $67.09 and its 200-day simple moving average is $65.26. The firm has a market capitalization of $65.72 billion, a PE ratio of 26.17 and a beta of 0.66. TC Energy Corporation has a 52 week low of $49.27 and a 52 week high of $71.47.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. The firm had revenue of $2.80 billion during 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 quarter in the prior year, the company earned $0.82 EPS. Equities research analysts forecast that TC Energy Corporation will post 2.75 earnings per share for the current year.

TC Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be given a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy's dividend payout ratio is currently 102.49%.

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.

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