444,825 Shares in TC Energy Corporation $TRP Acquired by Nykredit A S

Key Points

• Nykredit A/S acquired 444,825 shares of TC Energy during the second quarter, valued at approximately $29.4 million. Institutional investors collectively own 83.13% of the company.
• TC Energy reported quarterly earnings of $0.68 per share, beating analysts’ $0.61 estimate, while revenue of $2.80 billion also exceeded expectations.
• The company declared a quarterly dividend of $0.8775 per share, equivalent to an annualized $3.51 payout and a 5.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $89.

Nykredit A S bought a new stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 444,825 shares of the pipeline company's stock, valued at approximately $29,447,000.

Several other institutional investors have also added to or reduced their stakes in TRP. FIL Ltd raised its holdings in TC Energy by 3.9% during the 4th quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company's stock worth $1,558,669,000 after purchasing an additional 1,052,166 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of TC Energy by 6.3% in the 4th quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company's stock valued at $1,150,656,000 after purchasing an additional 1,244,525 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of TC Energy during the second quarter worth $1,148,244,000. GQG Partners LLC acquired a new stake in shares of TC Energy during the second quarter worth $1,107,936,000. Finally, Deutsche Bank AG raised its stake in TC Energy by 1.3% during the second quarter. Deutsche Bank AG now owns 15,821,521 shares of the pipeline company's stock worth $1,048,809,000 after buying an additional 196,543 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Up 0.6%

Shares of NYSE TRP opened at $62.87 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. The firm has a market cap of $65.51 billion, a PE ratio of 26.09 and a beta of 0.66. The company's fifty day simple moving average is $65.81 and its 200 day simple moving average is $65.41. TC Energy Corporation has a 12-month low of $49.27 and a 12-month high of $71.47.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly 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 net margin of 22.91% and a return on equity of 11.10%. During the same period in the previous year, the firm posted $0.82 earnings per share. As a group, sell-side analysts forecast that TC Energy Corporation will post 2.78 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be paid a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy's dividend payout ratio is 102.49%.

Analyst Upgrades and Downgrades

TRP has been the topic of several recent analyst reports. Morgan Stanley lowered shares of TC Energy from an "overweight" rating to an "equal weight" rating in a report on Wednesday, June 10th. US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Thursday, August 20th. BMO Capital Markets reissued an "outperform" rating and issued a $99.00 price objective on shares of TC Energy in a research note on Friday, July 31st. Royal Bank Of Canada upped their target price on TC Energy from $104.00 to $106.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Finally, Scotiabank reaffirmed an "outperform" rating on shares of TC Energy in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.

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