TC Energy Corporation (NYSE:TRP) Shares Bought by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP increased its stake in TC Energy Corporation by 209.4% in the first quarter, owning a total of 15,917 shares worth $751,000.
• In addition to Aigen, several other institutional investors, including Goldman Sachs and Vanguard Group, significantly boosted their holdings in TC Energy during the same period, demonstrating strong institutional interest in the company.
• TC Energy announced a quarterly dividend of $0.6148, representing a 4.9% dividend yield, which is an increase from the prior dividend of $0.61.

Aigen Investment Management LP boosted its stake in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 209.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,917 shares of the pipeline company's stock after purchasing an additional 10,772 shares during the quarter. Aigen Investment Management LP's holdings in TC Energy were worth $751,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Baader Bank Aktiengesellschaft raised its holdings in TC Energy by 4.4% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 6,325 shares of the pipeline company's stock worth $289,000 after buying an additional 264 shares during the period. Benjamin Edwards Inc. grew its stake in shares of TC Energy by 1.7% during the 4th quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company's stock worth $745,000 after acquiring an additional 273 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in shares of TC Energy by 3.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 9,908 shares of the pipeline company's stock worth $468,000 after acquiring an additional 344 shares in the last quarter. FSM Wealth Advisors LLC grew its stake in shares of TC Energy by 9.2% in the first quarter. FSM Wealth Advisors LLC now owns 5,152 shares of the pipeline company's stock valued at $243,000 after buying an additional 432 shares in the last quarter. Finally, Natixis Advisors LLC grew its stake in shares of TC Energy by 0.7% in the first quarter. Natixis Advisors LLC now owns 69,976 shares of the pipeline company's stock valued at $3,304,000 after buying an additional 456 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TRP has been the subject of a number of research reports. Barclays reissued an "overweight" rating on shares of TC Energy in a report on Thursday. Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Finally, CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Trading Down 0.5%

NYSE TRP traded down $0.26 on Friday, reaching $50.96. The stock had a trading volume of 839,358 shares, compared to its average volume of 2,350,043. The firm has a market capitalization of $53.00 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 4.90 and a beta of 0.75. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. TC Energy Corporation has a 12-month low of $39.79 and a 12-month high of $51.99. The stock has a fifty day moving average price of $48.39 and a two-hundred day moving average price of $48.04.

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

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a dividend of $0.6148 per share. This represents a $2.46 dividend on an annualized basis and a yield of 4.8%. This is an increase from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date is Monday, September 29th. TC Energy's dividend payout ratio (DPR) 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.