Amundi Increases Stock Position in TC Energy Corporation $TRP

Key Points

• Amundi increased its TC Energy stake by 7.5% in the second quarter, adding 347,326 shares to own 4.96 million shares valued at approximately $328.5 million. Institutional investors collectively own 83.13% of the company.
• TC Energy reported quarterly EPS of $0.68, exceeding analyst expectations of $0.61, while revenue reached $2.80 billion. The company declared a quarterly dividend of $0.8775, representing a 5.6% annualized yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $89, compared with the stock’s reported price of $62.60.

Amundi grew its holdings in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 7.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,955,656 shares of the pipeline company's stock after purchasing an additional 347,326 shares during the period. Amundi owned approximately 0.48% of TC Energy worth $328,510,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. FIL Ltd boosted its stake in shares of TC Energy by 3.9% in the fourth quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company's stock valued at $1,558,669,000 after buying an additional 1,052,166 shares in the last quarter. TD Asset Management Inc raised its position in TC Energy by 6.3% in the fourth quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company's stock worth $1,150,656,000 after acquiring an additional 1,244,525 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in TC Energy in the second quarter worth $1,148,244,000. GQG Partners LLC purchased a new position in TC Energy in the second quarter worth $1,107,936,000. Finally, Deutsche Bank AG lifted its holdings in TC Energy by 1.3% in the second quarter. Deutsche Bank AG now owns 15,821,521 shares of the pipeline company's stock valued at $1,048,809,000 after acquiring an additional 196,543 shares during the period. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Down 0.0%

Shares of TRP stock opened at $62.60 on Tuesday. TC Energy Corporation has a fifty-two week low of $49.27 and a fifty-two week high of $71.47. The stock has a market cap of $62.60 billion, a P/E ratio of 25.98 and a beta of 0.66. The business has a fifty day simple moving average of $65.55 and a 200-day simple moving average of $65.41. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period in the previous year, the firm earned $0.82 EPS. On average, analysts forecast that TC Energy Corporation will post 2.78 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be given a $0.8775 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 annualized dividend and a dividend yield of 5.6%. TC Energy's dividend payout ratio is currently 102.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. TD Securities restated a "hold" rating on shares of TC Energy in a research report on Thursday, July 16th. Royal Bank Of Canada increased their price target on shares of TC Energy from $104.00 to $106.00 and gave the company an "outperform" rating in a report on Friday, July 31st. BMO Capital Markets reiterated an "outperform" rating and issued a $99.00 price objective on shares of TC Energy in a research note on Friday, July 31st. Weiss Ratings reissued a "buy (b)" rating on shares of TC Energy in a report on Friday, July 31st. Finally, Barclays restated an "overweight" rating on shares of TC Energy in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $89.00.

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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