Dynamic Technology Lab Private Ltd Invests $833,000 in TC Energy Corporation $TRP

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new stake in TC Energy Corporation, purchasing 17,654 shares valued at approximately $833,000 in the first quarter.
• TC Energy has announced a quarterly dividend increase to $0.6148, representing a 4.7% annualized yield, with the dividend payout ratio at 85.32%.
• Analysts currently have an average rating of "Moderate Buy" on TC Energy stock, with a target price of $62.00 and a recent earnings per share of $0.59, surpassing expectations.

Dynamic Technology Lab Private Ltd bought a new stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,654 shares of the pipeline company's stock, valued at approximately $833,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TRP. Goldman Sachs Group Inc. grew its holdings in shares of TC Energy by 2,565.1% in the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company's stock valued at $769,815,000 after purchasing an additional 15,694,336 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of TC Energy by 80.3% in the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company's stock valued at $802,164,000 after purchasing an additional 7,562,887 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of TC Energy by 34.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company's stock valued at $935,627,000 after purchasing an additional 5,053,228 shares during the last quarter. Deutsche Bank AG raised its holdings in TC Energy by 175.1% during the 1st quarter. Deutsche Bank AG now owns 5,758,203 shares of the pipeline company's stock valued at $271,845,000 after buying an additional 3,664,862 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in TC Energy by 31.3% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,418,858 shares of the pipeline company's stock worth $444,885,000 after buying an additional 2,242,918 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Up 0.4%

TRP stock traded up $0.20 during midday trading on Friday, reaching $52.31. The company's stock had a trading volume of 2,101,287 shares, compared to its average volume of 2,280,490. 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 stock has a fifty day simple moving average of $49.60 and a two-hundred day simple moving average of $48.79. TC Energy Corporation has a 1 year low of $40.76 and a 1 year high of $52.49. The firm has a market capitalization of $54.39 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 4.97 and a beta of 0.77.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the firm posted $0.79 earnings per share. On average, equities research analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid a $0.6148 dividend. The ex-dividend date is Monday, September 29th. This is a positive change from TC Energy's previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a yield of 4.7%. TC Energy's payout ratio is 85.32%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TRP shares. US Capital Advisors downgraded TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Barclays restated an "overweight" rating on shares of TC Energy in a research report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

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.