TC Energy Corporation $TRP Shares Purchased by Campbell & CO Investment Adviser LLC

Key Points

• Campbell & CO Investment Adviser LLC increased its stake in TC Energy Corporation by 23.6%, now owning 123,285 shares valued at approximately $5.82 million.
• Several hedge funds significantly raised their positions in TC Energy, with Goldman Sachs increasing its stake by an astonishing 2,565.1% during the same period.
• TC Energy recently declared a quarterly dividend of $0.6148 per share, reflecting a 4.8% yield, which represents an increase from its previous dividend of $0.61.

Campbell & CO Investment Adviser LLC increased its holdings in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 23.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 123,285 shares of the pipeline company's stock after acquiring an additional 23,576 shares during the quarter. TC Energy makes up about 0.4% of Campbell & CO Investment Adviser LLC's holdings, making the stock its 21st biggest position. Campbell & CO Investment Adviser LLC's holdings in TC Energy were worth $5,820,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Lowe Wealth Advisors LLC acquired a new position in TC Energy in the 1st quarter valued at $30,000. TruNorth Capital Management LLC acquired a new position in TC Energy in the 1st quarter valued at $45,000. Golden State Wealth Management LLC increased its stake in TC Energy by 222.2% in the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock valued at $51,000 after buying an additional 742 shares during the period. SBI Securities Co. Ltd. increased its stake in TC Energy by 75.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company's stock valued at $55,000 after buying an additional 501 shares during the period. Finally, HM Payson & Co. acquired a new position in TC Energy in the 1st quarter valued at $60,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

TC Energy Price Performance

NYSE TRP traded up $0.15 during trading hours on Tuesday, reaching $50.92. The company's stock had a trading volume of 1,272,795 shares, compared to its average volume of 1,495,500. The stock has a market cap of $52.96 billion, a PE ratio of 17.38, a PEG ratio of 4.86 and a beta of 0.75. TC Energy Corporation has a fifty-two week low of $40.76 and a fifty-two week high of $52.10. The company's 50-day moving average is $48.65 and its two-hundred day moving average is $48.34. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.03. The firm 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 period in the prior year, the company earned $0.79 EPS. Analysts forecast that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be paid a $0.6148 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Monday, September 29th. This is a positive change from TC Energy's previous quarterly dividend of $0.61. TC Energy's dividend payout ratio is currently 85.32%.

TC Energy 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.