Equitable Holdings Inc. acquired a new stake in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 19,916 shares of the pipeline company's stock, valued at approximately $1,320,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of TRP. Sterling Capital Management LLC bought a new position in TC Energy in the 1st quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of TC Energy during the 4th quarter valued at about $25,000. Trust Co. of Vermont purchased a new position in shares of TC Energy during the second quarter worth about $33,000. McIlrath & Eck LLC purchased a new position in shares of TC Energy during the fourth quarter worth about $32,000. Finally, SWAN Capital LLC bought a new position in shares of TC Energy in the third quarter worth approximately $40,000. Institutional investors own 83.13% of the company's stock.
Analysts Set New Price Targets
TRP has been the topic of a number of recent analyst reports. Barclays reaffirmed an "overweight" rating on shares of TC Energy in a research note on Thursday, July 16th. TD Securities reissued a "hold" rating on shares of TC Energy in a report on Thursday, July 16th. Scotiabank restated an "outperform" rating on shares of TC Energy in a research report on Tuesday, July 21st. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Thursday, August 20th. Finally, National Bank Financial raised TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $89.00.
Read Our Latest Stock Analysis on TC Energy
TC Energy Stock Performance
NYSE:TRP opened at $61.87 on Friday. The company has a market capitalization of $64.46 billion, a price-to-earnings ratio of 25.67 and a beta of 0.66. The business has a 50 day moving average of $66.33 and a 200 day moving average of $65.34. 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 Corporation has a 1-year low of $49.27 and a 1-year high of $71.47.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.07. The business had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.76 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same period last year, the business earned $0.82 earnings per share. On average, sell-side analysts predict that TC Energy Corporation will post 2.78 earnings per share for the current fiscal year.
TC Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis 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.
Further Reading
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