Alberta Investment Management Corp Has $136.89 Million Position in TC Energy Corporation (NYSE:TRP)

Key Points

• Alberta Investment Management Corp increased its stake in TC Energy Corporation by 1.1%, now holding 2,899,029 shares valued at approximately $136.89 million, making it the firm's 17th largest position.
• TC Energy reported an EPS of $0.66 for the last quarter, which missed analysts' expectations of $0.70, with total revenue significantly below estimates at $1.78 billion versus $2.57 billion.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for TC Energy, with an average target price of $62.00.

Alberta Investment Management Corp boosted its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 1.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,899,029 shares of the pipeline company's stock after buying an additional 30,797 shares during the quarter. TC Energy makes up about 0.9% of Alberta Investment Management Corp's investment portfolio, making the stock its 17th largest position. Alberta Investment Management Corp owned 0.28% of TC Energy worth $136,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of TRP. Lowe Wealth Advisors LLC acquired a new position in TC Energy in the first quarter worth $30,000. TruNorth Capital Management LLC acquired a new stake in shares of TC Energy in the first quarter valued at $45,000. Golden State Wealth Management LLC raised its holdings in shares of TC Energy by 222.2% in the first quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock valued at $51,000 after buying an additional 742 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in TC Energy by 75.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company's stock worth $55,000 after buying an additional 501 shares in the last quarter. Finally, HM Payson & Co. bought a new stake in TC Energy during the 1st quarter worth about $60,000. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Trading Up 1.6%

TRP opened at $47.80 on Friday. 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 market cap of $49.70 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 4.56 and a beta of 0.76. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.70 and a quick ratio of 0.63. The firm has a 50 day simple moving average of $48.58 and a 200 day simple moving average of $47.85.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its earnings results on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. TC Energy had a net margin of 29.17% and a return on equity of 11.41%. During the same quarter in the previous year, the firm posted $1.02 EPS. On average, sell-side analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. Finally, Citigroup began coverage on TC Energy in a report on Friday, April 4th. They set a "neutral" rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued 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 an average target price of $62.00.

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.

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