BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 1,663,412 Shares of TC Energy Corporation $TRP

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in TC Energy Corporation by 363.5% during the first quarter, acquiring 1,663,412 additional shares to own a total of 2,121,043 shares.
• TC Energy recently declared a quarterly dividend of $0.6148 per share, reflecting a slight increase from the previous dividend, with an annualized yield of 4.8%.
• The company reported earnings of $0.59 EPS for the last quarter, surpassing analysts' expectations, but with revenue of $1.82 billion, which was below the consensus estimate.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 363.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,121,043 shares of the pipeline company's stock after acquiring an additional 1,663,412 shares during the period. TC Energy makes up approximately 0.6% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings, making the stock its 27th largest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.20% of TC Energy worth $100,184,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of TRP. BROOKFIELD Corp ON increased its position in shares of 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 purchasing an additional 454,011 shares during the period. Bank of New York Mellon Corp increased its holdings 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 raised its stake in shares of 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 in the last quarter. Wealthstar Advisors LLC acquired a new stake in shares of TC Energy during the 1st quarter valued at about $432,000. Finally, Golden State Wealth Management LLC boosted its position in shares of 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 valued at $51,000 after acquiring an additional 742 shares in the last quarter. Institutional investors own 83.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TRP. Barclays reissued an "overweight" rating on shares of TC Energy in a research report on Thursday, August 14th. CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. US Capital Advisors lowered TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. Finally, Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, TC Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Price Performance

TRP traded up $0.33 during midday trading on Wednesday, hitting $51.26. The company had a trading volume of 1,169,775 shares, compared to its average volume of 2,309,678. TC Energy Corporation has a twelve month low of $40.76 and a twelve month high of $52.10. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The firm's 50-day simple moving average is $48.65 and its 200-day simple moving average is $48.34. The company has a market capitalization of $53.31 billion, a PE ratio of 17.50, a P/E/G ratio of 4.86 and a beta of 0.75.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted 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 firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate 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 in the prior year, the business earned $0.79 EPS. Equities research analysts predict that TC Energy Corporation will post 2.63 EPS 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 given a dividend of $0.6148 per share. The ex-dividend date is Monday, September 29th. This represents a $2.46 annualized dividend and a dividend yield of 4.8%. This is a positive change from TC Energy's previous quarterly dividend of $0.61. TC Energy's dividend payout ratio is presently 85.32%.

About TC Energy

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.