4,288,745 Shares in TC Energy Corporation $TRP Acquired by Caisse de depot et placement du Quebec

Key Points

• Caisse de dépôt et placement du Québec acquired 4.29 million TC Energy shares valued at approximately $283.9 million, giving it a 0.41% stake. Institutional investors collectively own 83.13% of the company.
• Analysts maintain a generally positive outlook, with TC Energy receiving a consensus “Moderate Buy” rating and an average price target of $89.00.
• TC Energy reported quarterly EPS of $0.68, exceeding estimates of $0.61, and announced a quarterly dividend of $0.8775 per share, representing a 5.7% annualized yield.

Caisse de depot et placement du Quebec purchased a new position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,288,745 shares of the pipeline company's stock, valued at approximately $283,911,000. Caisse de depot et placement du Quebec owned approximately 0.41% of TC Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of TRP. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of TC Energy during the 4th quarter valued at $25,000. Sterling Capital Management LLC bought a new position in TC Energy in the first quarter valued at about $26,000. McIlrath & Eck LLC bought a new position in TC Energy in the fourth quarter valued at about $32,000. Trust Co. of Vermont acquired a new stake in shares of TC Energy during the second quarter valued at about $33,000. Finally, SWAN Capital LLC bought a new stake in shares of TC Energy during the third quarter worth about $40,000. 83.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TRP has been the subject of several recent research reports. National Bank Financial raised TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 4th. Weiss Ratings reiterated a "buy (b)" rating on shares of TC Energy in a research report on Friday, July 31st. Barclays reissued an "overweight" rating on shares of TC Energy in a report on Thursday, July 16th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of TC Energy in a research report on Tuesday, May 26th. Finally, US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $89.00.

TC Energy Price Performance

TC Energy stock opened at $61.85 on Wednesday. The stock's 50 day moving average is $66.66 and its 200 day moving average is $65.32. TC Energy Corporation has a one year low of $49.27 and a one year high of $71.47. The firm has a market cap of $64.45 billion, a P/E ratio of 25.67 and a beta of 0.66. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates 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 quarter in the prior year, the firm posted $0.82 EPS. As a group, research analysts expect that TC Energy Corporation will post 2.78 EPS for the current year.

TC Energy Dividend Announcement

The company 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 dividend of $0.8775 per share. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 annualized dividend and a dividend yield of 5.7%. TC Energy's dividend payout ratio is 102.49%.

About TC Energy

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source