Burney Co. Makes New $1.47 Million Investment in TC Energy Corporation $TRP

Key Points

• Burney Co. opened a new position in TC Energy during the first quarter, buying 23,502 shares valued at about $1.47 million.
• TC Energy reported Q1 EPS of $0.72, beating analyst expectations by $0.02, though revenue of $2.04 billion came in below estimates.
• The company declared a quarterly dividend of $0.8775 per share, implying an annualized yield of about 5.1%.

Burney Co. bought a new stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,502 shares of the pipeline company's stock, valued at approximately $1,471,000.

A number of other hedge funds have also made changes to their positions in TRP. Vanguard Group Inc. grew its position in shares of TC Energy by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company's stock valued at $2,632,200,000 after purchasing an additional 980,221 shares during the last quarter. FIL Ltd raised its position in shares of TC Energy by 3.9% during the 4th quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company's stock worth $1,558,669,000 after purchasing an additional 1,052,166 shares during the last quarter. TD Asset Management Inc raised its position in shares of TC Energy by 6.3% during the 4th quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company's stock worth $1,150,656,000 after purchasing an additional 1,244,525 shares during the last quarter. GQG Partners LLC lifted its stake in TC Energy by 586.5% in the 4th quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company's stock valued at $890,711,000 after buying an additional 13,801,371 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in TC Energy by 63.2% in the 4th quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company's stock valued at $846,288,000 after buying an additional 5,956,263 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Price Performance

TRP stock opened at $68.97 on Thursday. TC Energy Corporation has a 52-week low of $46.29 and a 52-week high of $71.47. The stock's fifty day simple moving average is $67.87 and its 200-day simple moving average is $62.85. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $71.86 billion, a price-to-earnings ratio of 29.93 and a beta of 0.66.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.During the same period last year, the company earned $0.95 EPS. Equities research analysts expect that TC Energy Corporation will post 2.73 EPS for the current year.

TC Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 annualized dividend and a dividend yield of 5.1%. TC Energy's dividend payout ratio (DPR) is currently 107.39%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TRP shares. BMO Capital Markets reissued an "outperform" rating on shares of TC Energy in a research report on Monday, May 4th. Barclays restated an "overweight" rating on shares of TC Energy in a research report on Monday, May 4th. Scotiabank reaffirmed an "outperform" rating on shares of TC Energy in a research note on Monday, May 4th. Weiss Ratings cut TC Energy from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada boosted their target price on shares of TC Energy from $92.00 to $95.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.50.

TC Energy 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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