Eagle Global Advisors LLC Has $11.77 Million Stock Holdings in TC Energy Corporation (NYSE:TRP)

Key Points

• Eagle Global Advisors LLC increased its stake in TC Energy Corporation by 47.0% in Q1, now holding shares worth $11.77 million.
• TC Energy recently reported an earnings per share of $0.59 for the quarter, surpassing expectations but with revenue falling below estimates.
• The company raised its quarterly dividend to $0.6148, reflecting a 5.0% yield and an 85.32% payout ratio.

Eagle Global Advisors LLC raised its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 47.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 249,350 shares of the pipeline company's stock after buying an additional 79,750 shares during the quarter. Eagle Global Advisors LLC's holdings in TC Energy were worth $11,772,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in TC Energy by 1.6% in the first quarter. Vanguard Group Inc. now owns 44,397,978 shares of the pipeline company's stock worth $2,096,739,000 after acquiring an additional 710,837 shares in the last quarter. TD Asset Management Inc grew its position in TC Energy by 6.2% in the first quarter. TD Asset Management Inc now owns 17,455,740 shares of the pipeline company's stock worth $824,243,000 after acquiring an additional 1,018,590 shares in the last quarter. Bank of Nova Scotia grew its position in 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 worth $802,164,000 after acquiring an additional 7,562,887 shares in the last quarter. Goldman Sachs Group Inc. grew its position in 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 worth $769,815,000 after acquiring an additional 15,694,336 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in TC Energy by 9.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company's stock worth $686,763,000 after acquiring an additional 1,280,000 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Stock Performance

Shares of TRP stock opened at $49.40 on Monday. The company's fifty day simple moving average is $48.46 and its 200-day simple moving average is $47.95. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. The firm has a market cap of $51.37 billion, a PE ratio of 16.86, a P/E/G ratio of 4.74 and a beta of 0.75. TC Energy Corporation has a 12 month low of $39.26 and a 12 month high of $51.99.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 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. Equities research analysts expect that TC Energy Corporation will post 2.63 EPS 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 given a $0.6148 dividend. The ex-dividend date of this dividend is Monday, September 29th. This is a boost from TC Energy's previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a dividend yield of 5.0%. TC Energy's payout ratio is currently 85.32%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TRP shares. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, TC Energy currently has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Company 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.

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