Advisors Asset Management Inc. Purchases 23,435 Shares of TC Energy Corporation $TRP

Key Points

• Advisors Asset Management Inc. increased its holdings in TC Energy Corporation by 106.4% in Q1, acquiring an additional 23,435 shares, bringing their total to 45,461 shares valued at approximately $2.15 million.
• Several hedge funds significantly expanded their investments in TC Energy during the same quarter, with Goldman Sachs increasing its stake by an impressive 2,565.1%.
• TC Energy recently declared a quarterly dividend of $0.6148 per share, a boost from the previous quarterly dividend, yielding an annualized dividend of 4.7%.

Advisors Asset Management Inc. grew its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 106.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,461 shares of the pipeline company's stock after purchasing an additional 23,435 shares during the quarter. Advisors Asset Management Inc.'s holdings in TC Energy were worth $2,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of TRP. Goldman Sachs Group Inc. lifted its holdings in shares of TC Energy by 2,565.1% in the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company's stock worth $769,815,000 after buying an additional 15,694,336 shares in the last quarter. Bank of Nova Scotia lifted its holdings in shares of TC Energy by 80.3% in the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company's stock worth $802,164,000 after buying an additional 7,562,887 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of TC Energy by 34.2% in the first quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company's stock worth $935,627,000 after buying an additional 5,053,228 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of TC Energy by 175.1% in the first quarter. Deutsche Bank AG now owns 5,758,203 shares of the pipeline company's stock worth $271,845,000 after buying an additional 3,664,862 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of TC Energy by 31.3% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,418,858 shares of the pipeline company's stock worth $444,885,000 after buying an additional 2,242,918 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TRP shares. Barclays reissued an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. US Capital Advisors downgraded shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, TC Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Stock Performance

TC Energy stock opened at $51.84 on Monday. The company's 50-day moving average price is $49.30 and its 200-day moving average price is $48.65. TC Energy Corporation has a twelve month low of $40.76 and a twelve month high of $52.39. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. The company has a market cap of $53.92 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 4.97 and a beta of 0.77.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the firm posted $0.79 earnings per share. On average, equities research analysts forecast that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be paid a $0.6148 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.46 annualized dividend and a yield of 4.7%. This is a boost from TC Energy's previous quarterly dividend of $0.61. TC Energy's payout ratio is 85.32%.

TC Energy 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.

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