Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 14,781,669 shares of the pipeline company's stock, valued at approximately $977,976,000. TC Energy makes up 1.9% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 6th largest position. Connor Clark & Lunn Investment Management Ltd. owned about 1.42% of TC Energy at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Annis Gardner Whiting Capital Advisors LLC bought a new position in TC Energy during the fourth quarter worth about $25,000. Sterling Capital Management LLC bought a new stake in shares of TC Energy in the 1st quarter valued at approximately $26,000. McIlrath & Eck LLC bought a new stake in shares of TC Energy in the 4th quarter valued at approximately $32,000. Trust Co. of Vermont bought a new stake in shares of TC Energy in the 2nd quarter valued at approximately $33,000. Finally, SWAN Capital LLC acquired a new position in shares of TC Energy in the 3rd quarter worth approximately $40,000. Institutional investors own 83.13% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently commented on TRP. Scotiabank restated an "outperform" rating on shares of TC Energy in a research report on Tuesday, July 21st. Barclays reiterated an "overweight" rating on shares of TC Energy in a research note on Thursday, July 16th. National Bank Financial raised TC Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, May 4th. Weiss Ratings restated a "buy (b)" rating on shares of TC Energy in a research note on Friday, July 31st. Finally, BMO Capital Markets restated an "outperform" rating and issued a $99.00 target price on shares of TC Energy in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, TC Energy presently has an average rating of "Moderate Buy" and an average target price of $89.00.
Get Our Latest Report on TRP
TC Energy Stock Up 0.0%
Shares of TRP opened at $62.04 on Monday. The company has a market capitalization of $64.64 billion, a P/E ratio of 25.74 and a beta of 0.66. TC Energy Corporation has a one year low of $49.27 and a one year high of $71.47. The business's 50 day simple moving average is $66.95 and its 200-day simple moving average is $65.29. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.07. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the company posted $0.82 earnings per share. As a group, sell-side analysts predict that TC Energy Corporation will post 2.78 EPS for the current fiscal year.
TC Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be given a $0.8775 dividend. This represents a $3.51 annualized dividend and a 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
(
Free Report)
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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