Alberta Investment Management Corp Has $174.61 Million Stake in TC Energy Corporation $TRP

Key Points

• Alberta Investment Management Corp. cut its TC Energy position by 34.1% in the second quarter, selling 1.36 million shares and retaining 2.64 million shares valued at approximately $174.6 million.
• Analyst sentiment remains generally positive, with TC Energy receiving a “Moderate Buy” consensus rating and an average price target of $89.00, despite some hold and equal-weight downgrades.
• TC Energy exceeded quarterly earnings and revenue expectations, reporting $0.68 in EPS and $2.80 billion in revenue. The company declared a quarterly dividend of $0.8775 per share, representing a 5.5% annualized yield.

Alberta Investment Management Corp reduced its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 34.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,639,307 shares of the pipeline company's stock after selling 1,364,964 shares during the period. TC Energy accounts for about 1.0% of Alberta Investment Management Corp's portfolio, making the stock its 9th largest position. Alberta Investment Management Corp owned approximately 0.25% of TC Energy worth $174,606,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Groupe la Francaise grew its stake in TC Energy by 2.1% during the 1st quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company's stock worth $459,000 after buying an additional 154 shares during the last quarter. Wealthstar Advisors LLC raised its position in shares of TC Energy by 1.5% in the 1st quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company's stock valued at $718,000 after purchasing an additional 165 shares during the last quarter. Gold Investment Management Ltd. boosted its stake in TC Energy by 2.0% in the 4th quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company's stock worth $549,000 after purchasing an additional 200 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in TC Energy by 5.7% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company's stock worth $245,000 after purchasing an additional 210 shares in the last quarter. Finally, Arax Advisory Partners grew its position in TC Energy by 7.9% during the 4th quarter. Arax Advisory Partners now owns 3,029 shares of the pipeline company's stock worth $167,000 after purchasing an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

Analyst Upgrades and Downgrades

TRP has been the topic of a number of recent analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of TC Energy in a research note on Friday, July 31st. TD Securities reaffirmed a "hold" rating on shares of TC Energy in a report on Thursday, July 16th. The Goldman Sachs Group raised shares of TC Energy from a "sell" rating to a "neutral" rating and lifted their target price for the company from $53.00 to $62.00 in a report on Monday, April 20th. Royal Bank Of Canada boosted their target price on shares of TC Energy from $104.00 to $106.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Finally, Morgan Stanley downgraded shares of TC Energy from an "overweight" rating to an "equal weight" rating in a report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $89.00.

TC Energy Stock Down 0.0%

TC Energy stock opened at $64.00 on Monday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54. The stock has a market capitalization of $66.68 billion, a PE ratio of 26.56 and a beta of 0.66. The business has a 50 day simple moving average of $67.53 and a 200-day simple moving average of $65.13. TC Energy Corporation has a 12 month low of $49.27 and a 12 month high of $71.47.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.07. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.During the same quarter last year, the firm posted $0.82 EPS. On average, analysts anticipate that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be paid a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.5%. The ex-dividend date is Tuesday, September 29th. TC Energy's payout ratio is 102.49%.

TC Energy Company 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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