Bank of Nova Scotia Acquires New Stake in TC Energy Corporation $TRP

Key Points

• Bank of Nova Scotia acquired 4.51 million TC Energy shares worth approximately $298.8 million, giving it a 0.43% stake. Institutional investors collectively own 83.13% of the company.
• Analyst sentiment remains generally positive, with TC Energy receiving a consensus “Moderate Buy” rating and an average price target of $89.00, although some longer-term earnings forecasts were reduced.
• TC Energy exceeded quarterly earnings expectations with EPS of $0.68 versus $0.61 anticipated and declared a quarterly dividend of $0.8775, representing a 5.7% annualized yield.

Bank of Nova Scotia acquired a new position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,512,114 shares of the pipeline company's stock, valued at approximately $298,788,000. Bank of Nova Scotia owned 0.43% of TC Energy as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of TC Energy in the fourth quarter valued at about $25,000. Sterling Capital Management LLC bought a new position in TC Energy during the 1st quarter worth about $26,000. McIlrath & Eck LLC bought a new position in TC Energy during the 4th quarter worth about $32,000. Trust Co. of Vermont purchased a new position in TC Energy during the 2nd quarter valued at about $33,000. Finally, SWAN Capital LLC purchased a new position in TC Energy during the 3rd quarter valued at about $40,000. 83.13% of the stock is owned by institutional investors.

TC Energy News Roundup

Here are the key news stories impacting TC Energy this week:

• Positive Sentiment: US Capital Advisors upgraded TC Energy to “Moderate Buy” from “Hold,” providing a more constructive view of the pipeline operator’s shares. Zacks.com
• Positive Sentiment: Scotiabank raised its earnings forecasts and maintained an “Outperform” rating, increasing its FY2026 EPS estimate to $2.76 from $2.69 and its FY2027 estimate to $2.89 from $2.83. The revisions suggest expectations for stronger earnings growth than previously projected. TC Energy analyst estimates
• Positive Sentiment: US Capital Advisors raised its FY2026 EPS forecast to $2.80 from $2.63, while lifting estimates for the third and fourth quarters of 2026 to $0.64 and $0.77, respectively. These forecasts are above the firm’s earlier estimates and broadly support the current-year earnings outlook. TC Energy 2026 earnings estimates
• Neutral Sentiment: The analyst views are mixed: current-year EPS expectations range around $2.75 to $2.80, while US Capital Advisors forecasts FY2027 EPS of $2.69 and FY2028 EPS of $2.81. Investors may remain cautious until the outlook becomes more consistent across firms.
• Negative Sentiment: US Capital Advisors reduced nearly all of its 2027 and 2028 forecasts: FY2027 EPS fell to $2.69 from $2.76, FY2028 EPS to $2.81 from $2.83, and estimates for the first three quarters of 2027 were also trimmed. The cuts imply softer longer-term earnings momentum and are likely weighing on sentiment. US Capital Advisors TC Energy estimates

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TRP shares. BMO Capital Markets reaffirmed an "outperform" rating and issued a $99.00 price target on shares of TC Energy in a research report on Friday, July 31st. Morgan Stanley lowered shares of TC Energy from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, June 10th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of TC Energy in a research note on Tuesday, May 26th. National Bank Financial raised TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 4th. Finally, Barclays reiterated an "overweight" rating on shares of TC Energy in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $89.00.

TC Energy Trading Down 1.6%

Shares of TC Energy stock opened at $62.04 on Friday. The firm's 50 day simple moving average is $66.95 and its two-hundred day simple moving average is $65.24. The firm has a market capitalization of $64.64 billion, a price-to-earnings ratio of 25.74 and a beta of 0.66. TC Energy Corporation has a 12-month low of $49.27 and a 12-month high of $71.47. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted 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. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.76 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same period in the previous year, the firm posted $0.82 earnings per share. Analysts predict that TC Energy Corporation will post 2.78 EPS for the current year.

TC Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be paid a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Tuesday, September 29th. TC Energy's dividend payout ratio (DPR) is presently 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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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