Fox Run Management L.L.C. Invests $1.88 Million in TC Energy Corporation (NYSE:TRP)

Key Points

• Fox Run Management L.L.C. invested $1.88 million in TC Energy Corporation by acquiring 39,911 shares during the first quarter.
• TC Energy announced a quarterly dividend of $0.6148, increasing from the previous $0.61 and representing an annualized yield of 4.8%.
• Research analysts maintain a generally positive outlook, with TC Energy receiving an average rating of "Moderate Buy" and a target price of $62.00.

Fox Run Management L.L.C. bought a new position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 39,911 shares of the pipeline company's stock, valued at approximately $1,884,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TRP. Vanguard Group Inc. raised its stake in shares of TC Energy by 1.6% during 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 boosted its holdings in shares of TC Energy by 6.2% during the 1st quarter. TD Asset Management Inc now owns 17,455,740 shares of the pipeline company's stock valued at $824,243,000 after buying an additional 1,018,590 shares in the last quarter. Bank of Nova Scotia boosted its holdings in shares of TC Energy by 80.3% during the 1st quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company's stock valued at $802,164,000 after buying an additional 7,562,887 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in TC Energy by 2,565.1% in 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 in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of TC Energy by 9.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company's stock valued at $686,763,000 after acquiring an additional 1,280,000 shares during the last quarter. Institutional investors own 83.13% of the company's stock.

TC Energy Trading Down 0.4%

TC Energy stock traded down $0.18 during trading on Friday, hitting $51.04. The company's stock had a trading volume of 1,218,308 shares, compared to its average volume of 1,510,380. The stock has a market capitalization of $53.08 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 4.89 and a beta of 0.75. The stock's fifty day moving average is $48.40 and its 200 day moving average is $48.10. TC Energy Corporation has a 1-year low of $39.79 and a 1-year high of $51.99. 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 (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. TC Energy had a return on equity of 11.22% and a net margin of 28.98%. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same period in the prior year, the firm earned $0.79 EPS. As a group, equities research analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be paid a dividend of $0.6148 per share. This is a positive change from TC Energy's previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a yield of 4.8%. The ex-dividend date is Monday, September 29th. TC Energy's dividend payout ratio is presently 83.62%.

Analyst Upgrades and Downgrades

TRP has been the subject of several analyst reports. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Barclays restated an "overweight" rating on shares of TC Energy in a report on Thursday. Finally, CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.