Ninepoint Partners LP Invests $2.11 Million in TC Energy Corporation (NYSE:TRP)

Ninepoint Partners LP acquired a new stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 44,738 shares of the pipeline company's stock, valued at approximately $2,112,000.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in TC Energy by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company's stock valued at $2,035,952,000 after purchasing an additional 734,678 shares during the period. FIL Ltd boosted its stake in shares of TC Energy by 10.3% in the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock worth $1,325,558,000 after acquiring an additional 2,644,627 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of TC Energy by 9.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company's stock worth $686,763,000 after acquiring an additional 1,280,000 shares during the last quarter. Norges Bank acquired a new stake in shares of TC Energy in the fourth quarter worth approximately $428,759,000. Finally, Tortoise Capital Advisors L.L.C. boosted its stake in shares of TC Energy by 4.3% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 8,279,997 shares of the pipeline company's stock worth $385,268,000 after acquiring an additional 337,647 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TRP shares. Citigroup started coverage on TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating on the stock. CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Finally, Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, TC Energy has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Price Performance

TRP stock traded down $0.33 during midday trading on Friday, hitting $47.24. 1,062,272 shares of the stock were exchanged, compared to its average volume of 2,750,832. The stock's 50-day moving average price is $48.84 and its 200-day moving average price is $47.85. The stock has a market cap of $49.13 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 4.58 and a beta of 0.76. TC Energy Corporation has a fifty-two week low of $37.41 and a fifty-two week high of $51.99. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.63 and a current ratio of 0.70.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). TC Energy had a return on equity of 11.41% and a net margin of 29.17%. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the firm earned $1.02 earnings per share. Research analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.6142 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.20%. TC Energy's dividend payout ratio (DPR) is 82.51%.

TC Energy Company 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.