Aviso Financial Inc. Buys 6,339 Shares of 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. boosted its holdings in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 2.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 247,997 shares of the pipeline company's stock after purchasing an additional 6,339 shares during the period. Aviso Financial Inc.'s holdings in TC Energy were worth $11,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. BROOKFIELD Corp ON raised its holdings in TC Energy by 31.6% in the 4th quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company's stock valued at $87,950,000 after acquiring an additional 454,011 shares during the last quarter. Bank of New York Mellon Corp boosted its position 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 buying an additional 10,227 shares during the period. Farther Finance Advisors LLC boosted its position in TC Energy by 77.7% in the 1st 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 purchased a new stake in shares of TC Energy during the 1st quarter worth $432,000. Finally, Golden State Wealth Management LLC raised its stake in TC Energy by 222.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock worth $51,000 after acquiring an additional 742 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Stock Performance

NYSE:TRP traded down $0.3660 during mid-day trading on Friday, hitting $51.1540. The stock had a trading volume of 1,233,031 shares, compared to its average volume of 2,327,731. TC Energy Corporation has a 52 week low of $40.76 and a 52 week high of $52.10. The stock has a market capitalization of $53.20 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 4.97 and a beta of 0.75. The company has a 50 day simple moving average of $48.53 and a 200-day simple moving average of $48.25. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. The company had revenue of $1.82 billion for the quarter, compared to analysts' expectations 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 company posted $0.79 EPS. On average, research analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be paid a dividend of $0.6148 per share. 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 annualized dividend and a dividend yield of 4.8%. TC Energy's dividend payout ratio (DPR) is currently 85.32%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TRP. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. US Capital Advisors lowered shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday. Barclays reissued an "overweight" rating on shares of TC Energy in a research note on Thursday, August 14th. Finally, CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, TC Energy currently has a consensus rating of "Moderate Buy" and a consensus price target 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.