Aviso Financial Inc. Boosts Holdings in TC Energy Corporation $TRP

Key Points

• Aviso Financial Inc. increased its stake in TC Energy Corporation by 2.6% during the first quarter, acquiring an additional 6,339 shares, bringing its total holdings to 247,997 shares worth $11,716,000.
• Several institutional investors significantly boosted their positions in TC Energy, including First Trust Advisors LP, which increased its stake by 685.3% during the fourth quarter.
• TC Energy recently declared a quarterly dividend of $0.6148 per share, representing an annualized yield of 4.8%, up from its previous quarterly dividend.

Aviso Financial Inc. raised its holdings in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 247,997 shares of the pipeline company's stock after purchasing an additional 6,339 shares during the quarter. Aviso Financial Inc.'s holdings in TC Energy were worth $11,716,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TRP. BROOKFIELD Corp ON boosted its stake in TC Energy by 31.6% during the fourth quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company's stock valued at $87,950,000 after buying an additional 454,011 shares during the period. Bank of New York Mellon Corp raised its stake in shares of TC Energy by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 915,241 shares of the pipeline company's stock worth $43,209,000 after acquiring an additional 10,227 shares in the last quarter. Farther Finance Advisors LLC grew its holdings 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 worth $110,000 after purchasing an additional 1,005 shares during the last quarter. Wealthstar Advisors LLC bought a new position in shares of TC Energy in the first quarter worth approximately $432,000. Finally, Golden State Wealth Management LLC grew 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 worth $51,000 after purchasing an additional 742 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Down 0.7%

TC Energy stock traded down $0.3660 on Friday, hitting $51.1540. 1,307,596 shares of the stock traded hands, compared to its average volume of 1,462,525. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. The firm has a market cap of $53.20 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 4.93 and a beta of 0.75. The business's fifty day simple moving average is $48.56 and its 200 day simple moving average is $48.28. TC Energy Corporation has a 1 year low of $40.76 and a 1 year high of $52.10.

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

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be given a $0.6148 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.46 annualized dividend and a dividend yield of 4.8%. This is a boost from TC Energy's previous quarterly dividend of $0.61. TC Energy's payout ratio is presently 83.62%.

Analysts Set New Price Targets

Several research firms recently weighed in on TRP. Barclays reiterated an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. US Capital Advisors cut shares of TC Energy from a "moderate buy" rating to a "hold" rating in a report on Thursday. Finally, Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, TC Energy currently 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.