Connor Clark & Lunn Investment Management Ltd. grew its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 31.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,418,858 shares of the pipeline company's stock after purchasing an additional 2,242,918 shares during the quarter. TC Energy makes up approximately 1.9% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 8th largest holding. Connor Clark & Lunn Investment Management Ltd. owned 0.91% of TC Energy worth $444,885,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Lowe Wealth Advisors LLC bought a new position in shares of TC Energy in the first quarter valued at approximately $30,000. TruNorth Capital Management LLC bought a new position in shares of TC Energy in the first quarter valued at approximately $45,000. Golden State Wealth Management LLC raised its position in shares of TC Energy by 222.2% in the first quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock valued at $51,000 after purchasing an additional 742 shares during the period. SBI Securities Co. Ltd. raised its position in shares of TC Energy by 75.3% in the first quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company's stock valued at $55,000 after purchasing an additional 501 shares during the period. Finally, HM Payson & Co. bought a new position in shares of TC Energy in the first quarter valued at approximately $60,000. Institutional investors own 83.13% of the company's stock.
TC Energy Stock Performance
TRP stock traded down $0.32 on Friday, reaching $49.40. 1,343,141 shares of the company were exchanged, compared to its average volume of 1,790,885. TC Energy Corporation has a 12 month low of $39.26 and a 12 month high of $51.99. The stock's fifty day moving average price is $48.46 and its 200 day moving average price is $47.95. The firm has a market capitalization of $51.37 billion, a PE ratio of 16.86, a PEG ratio of 4.74 and a beta of 0.75. The company has a debt-to-equity ratio of 1.54, 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 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the firm posted $0.79 earnings per share. On average, research analysts anticipate 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. Shareholders of record on Monday, September 29th will be paid a dividend of $0.6148 per share. This is an increase from TC Energy's previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Monday, September 29th. TC Energy's dividend payout ratio is presently 85.32%.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, TC Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.
Check Out Our Latest Report on TC Energy
TC Energy Company Profile
(
Free Report)
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.
Recommended Stories
Before you consider TC Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TC Energy wasn't on the list.
While TC Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access Sale