Federation des caisses Desjardins du Quebec Has $321.10 Million Holdings in TC Energy Corporation $TRP

Key Points

• The Federation des caisses Desjardins du Quebec has increased its stake in TC Energy Corporation by 37.8%, now holding a total of 6,816,522 shares valued at approximately $321 million.
• TC Energy recently announced a quarterly dividend of $0.6148, representing a 4.7% dividend yield and an increase from its previous quarterly dividend.
• Despite mixed analyst ratings, TC Energy has a consensus rating of "Moderate Buy" with a target price of $62.00 per share.

Federation des caisses Desjardins du Quebec boosted its holdings in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 37.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,816,522 shares of the pipeline company's stock after acquiring an additional 1,868,992 shares during the period. TC Energy makes up approximately 1.6% of Federation des caisses Desjardins du Quebec's investment portfolio, making the stock its 14th largest holding. Federation des caisses Desjardins du Quebec owned 0.66% of TC Energy worth $321,102,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC bought a new position in TC Energy during the first quarter worth about $30,000. TruNorth Capital Management LLC acquired a new stake in TC Energy in the 1st quarter valued at approximately $45,000. Truvestments Capital LLC bought a new stake in TC Energy in the 1st quarter valued at approximately $45,000. Golden State Wealth Management LLC boosted its position in TC Energy by 222.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock worth $51,000 after acquiring an additional 742 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in shares of TC Energy by 75.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company's stock worth $55,000 after acquiring an additional 501 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

TC Energy Stock Down 1.3%

TRP traded down $0.67 on Thursday, hitting $51.39. 1,912,423 shares of the company were exchanged, compared to its average volume of 1,331,412. The stock's fifty day moving average is $49.25 and its 200-day moving average is $48.57. The company has a market cap of $53.45 billion, a PE ratio of 17.54, a PEG ratio of 4.98 and a beta of 0.77. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. TC Energy Corporation has a 12 month low of $40.76 and a 12 month high of $52.39.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same quarter in the previous year, the business earned $0.79 earnings per share. Equities research analysts predict 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 given a dividend of $0.6148 per share. This represents a $2.46 dividend on an annualized basis and a yield of 4.8%. This is a boost from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, September 29th. TC Energy's dividend payout ratio (DPR) is presently 85.32%.

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.