FORA Capital LLC Purchases New Shares in TC Energy Corporation $TRP

Key Points

• FORA Capital LLC invested approximately $776,000 in TC Energy Corporation by acquiring 16,435 shares in the 1st quarter.
• TC Energy recently announced a quarterly dividend of $0.6148 per share, marking an increase from its previous dividend and reflecting a 4.8% dividend yield.
• The stock's performance showed a 0.7% increase, with a current P/E ratio of 17.50 and a market cap of $53.31 billion.

FORA Capital LLC bought 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 Securities & Exchange Commission. The institutional investor bought 16,435 shares of the pipeline company's stock, valued at approximately $776,000.

Several other large investors have also added to or reduced their stakes in TRP. Tower Research Capital LLC TRC boosted its holdings in TC Energy by 67.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,658 shares of the pipeline company's stock worth $77,000 after purchasing an additional 666 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in TC Energy by 10.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 13,406 shares of the pipeline company's stock worth $624,000 after purchasing an additional 1,224 shares during the last quarter. Northern Trust Corp boosted its holdings in TC Energy by 73.1% during the fourth quarter. Northern Trust Corp now owns 774,074 shares of the pipeline company's stock worth $36,018,000 after purchasing an additional 326,866 shares during the last quarter. PDT Partners LLC boosted its holdings in TC Energy by 10.4% during the fourth quarter. PDT Partners LLC now owns 57,344 shares of the pipeline company's stock worth $2,668,000 after purchasing an additional 5,400 shares during the last quarter. Finally, AXA S.A. boosted its holdings in TC Energy by 28.4% during the fourth quarter. AXA S.A. now owns 142,095 shares of the pipeline company's stock worth $6,612,000 after purchasing an additional 31,441 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on TRP shares. US Capital Advisors lowered shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Barclays reaffirmed an "overweight" rating on shares of TC Energy in a research report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Stock Performance

Shares of TRP traded down $0.19 during trading hours on Tuesday, hitting $51.87. The company had a trading volume of 190,482 shares, compared to its average volume of 2,292,663. The firm has a market cap of $53.94 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 4.98 and a beta of 0.77. The business has a fifty day moving average of $48.99 and a 200-day moving average of $48.49. TC Energy Corporation has a 12 month low of $40.76 and a 12 month high of $52.26. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same period in the prior year, the firm earned $0.79 earnings per share. Equities analysts anticipate 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 4.7%. TC Energy's payout ratio is currently 85.32%.

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.