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 purchased a new position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 17,654 shares of the pipeline company's stock, valued at approximately $833,000.

Several other large investors also recently modified their holdings of TRP. Goldman Sachs Group Inc. increased its stake in shares of TC Energy by 2,565.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company's stock worth $769,815,000 after purchasing an additional 15,694,336 shares during the last quarter. Bank of Nova Scotia boosted its holdings in TC Energy by 80.3% in the 1st quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company's stock worth $802,164,000 after buying an additional 7,562,887 shares during the period. Canada Pension Plan Investment Board boosted its holdings in TC Energy by 34.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company's stock worth $935,627,000 after buying an additional 5,053,228 shares during the period. Deutsche Bank AG boosted its holdings in TC Energy by 175.1% in the 1st quarter. Deutsche Bank AG now owns 5,758,203 shares of the pipeline company's stock worth $271,845,000 after buying an additional 3,664,862 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in TC Energy by 31.3% in the 1st 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 period. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Price Performance

NYSE:TRP traded up $0.20 during trading hours on Friday, hitting $52.31. The stock had a trading volume of 2,101,287 shares, compared to its average volume of 1,604,801. The company has a 50 day simple moving average of $49.68 and a two-hundred day simple moving average of $48.91. 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 Corporation has a one year low of $40.76 and a one year high of $52.49. The firm has a market capitalization of $54.39 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 5.01 and a beta of 0.77.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the firm earned $0.79 EPS. Research analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a dividend of $0.6148 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.7%. This is an increase from TC Energy's previous quarterly dividend of $0.61. TC Energy's payout ratio is presently 85.32%.

Analysts Set New Price Targets

Several research firms recently commented on TRP. US Capital Advisors downgraded shares of TC Energy from a "moderate buy" rating to a "hold" rating in a report on Thursday, August 21st. Barclays reaffirmed an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. Finally, Wall Street Zen raised shares of TC Energy from a "sell" rating to a "hold" rating in a report on Saturday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.