TC Energy Corporation $TRP Shares Acquired by Amundi

Key Points

• Amundi increased its stake in TC Energy Corporation by 3.9% in the first quarter, acquiring a total of 4,091,894 shares valued at approximately $199 million.
• The company has recently announced a quarterly dividend increase, now paying $0.6148 per share, representing a 4.8% dividend yield.
• Analysts maintain a consensus rating of "Moderate Buy" for TC Energy, with an average price target set at $62.00.

Amundi lifted its position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,091,894 shares of the pipeline company's stock after acquiring an additional 154,219 shares during the quarter. Amundi owned approximately 0.39% of TC Energy worth $199,357,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in TC Energy by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 915,241 shares of the pipeline company's stock valued at $43,209,000 after acquiring an additional 10,227 shares during the period. Farther Finance Advisors LLC increased its stake in shares of TC Energy by 77.7% in the first quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company's stock valued at $110,000 after buying an additional 1,005 shares during the period. Wealthstar Advisors LLC acquired a new stake in shares of TC Energy in the first quarter valued at about $432,000. Golden State Wealth Management LLC increased its holdings in 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 worth $51,000 after purchasing an additional 742 shares in the last quarter. Finally, FORA Capital LLC acquired a new position in TC Energy during the 1st quarter worth approximately $776,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

TC Energy Price Performance

TRP traded up $0.16 during trading on Wednesday, reaching $51.97. The company's stock had a trading volume of 487,209 shares, compared to its average volume of 2,271,865. 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 $54.05 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 4.97 and a beta of 0.77. The firm has a fifty day simple moving average of $49.44 and a two-hundred day simple moving average of $48.72. TC Energy Corporation has a 1 year low of $40.76 and a 1 year high of $52.39.

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

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be issued a $0.6148 dividend. This is a positive change from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date is Monday, September 29th. This represents a $2.46 dividend on an annualized basis and a yield of 4.7%. TC Energy's payout ratio is currently 83.62%.

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.