67,733 Shares in TC Energy Corporation $TRP Acquired by Infrastructure Capital Advisors LLC

Key Points

• Infrastructure Capital Advisors acquired 67,733 shares of TC Energy worth approximately $4.49 million, while institutional investors collectively own 83.13% of the company.
• Analysts maintain a generally positive view, with TC Energy carrying an average “Moderate Buy” rating and an average price target of $89.00; BMO Capital Markets set a $99 target.
• TC Energy reported quarterly EPS of $0.68, above the $0.61 consensus estimate, and declared a quarterly dividend of $0.8775, representing a 5.7% annualized yield.

Infrastructure Capital Advisors LLC bought a new stake in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 67,733 shares of the pipeline company's stock, valued at approximately $4,490,000.

A number of other hedge funds also recently modified their holdings of TRP. Sterling Capital Management LLC purchased a new stake in TC Energy in the 1st quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in TC Energy in the 4th quarter valued at approximately $25,000. Trust Co. of Vermont acquired a new position in TC Energy in the 2nd quarter valued at approximately $33,000. McIlrath & Eck LLC purchased a new stake in TC Energy in the 4th quarter worth approximately $32,000. Finally, SWAN Capital LLC acquired a new stake in shares of TC Energy during the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on TRP shares. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Thursday. BMO Capital Markets reissued an "outperform" rating and set a $99.00 price objective on shares of TC Energy in a research report on Friday, July 31st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of TC Energy in a research report on Friday, July 31st. Morgan Stanley downgraded TC Energy from an "overweight" rating to an "equal weight" rating in a report on Wednesday, June 10th. Finally, TD Securities reiterated a "hold" rating on shares of TC Energy in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $89.00.

TC Energy Stock Performance

Shares of TRP opened at $62.04 on Monday. The company has a market capitalization of $64.64 billion, a PE ratio of 25.74 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 Corporation has a one year low of $49.27 and a one year high of $71.47. The company's fifty day moving average price is $66.95 and its 200 day moving average price is $65.29.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period last year, the business posted $0.82 earnings per share. As a group, analysts expect that TC Energy Corporation will post 2.78 earnings per share for the current year.

TC Energy Announces Dividend

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 5.7%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy's dividend payout ratio is currently 102.49%.

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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