Ieq Capital LLC Makes New $1.48 Million Investment in TC Energy Corporation $TRP

Key Points

• Ieq Capital acquired 22,372 shares of TC Energy in the second quarter, valued at approximately $1.48 million. Institutional investors collectively own 83.13% of the company.
• TC Energy reported quarterly EPS of $0.68, beating analyst estimates of $0.61, while revenue reached $2.80 billion versus the $2.76 billion consensus.
• The company declared a quarterly dividend of $0.8775 per share, equivalent to an annualized $3.51 payout and a 5.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $89.

Ieq Capital LLC acquired a new stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 22,372 shares of the pipeline company's stock, valued at approximately $1,483,000.

Several other hedge funds have also modified their holdings of TRP. GQG Partners LLC raised its position in TC Energy by 586.5% in the 4th quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company's stock worth $890,711,000 after purchasing an additional 13,801,371 shares during the last quarter. Norges Bank bought a new position in TC Energy in the 4th quarter valued at $583,732,000. Deutsche Bank AG increased its stake in shares of TC Energy by 63.2% in the 4th quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company's stock valued at $846,288,000 after buying an additional 5,956,263 shares during the period. Ontario Teachers Pension Plan Board acquired a new stake in shares of TC Energy in the 2nd quarter valued at $273,917,000. Finally, Kayne Anderson Capital Advisors LP bought a new stake in shares of TC Energy during the second quarter worth $260,024,000. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Up 1.6%

TC Energy stock opened at $62.82 on Thursday. The company has a 50 day moving average of $66.56 and a 200-day moving average of $65.34. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. TC Energy Corporation has a twelve month low of $49.27 and a twelve month high of $71.47. The stock has a market capitalization of $65.45 billion, a PE ratio of 26.07 and a beta of 0.66.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.07. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.During the same period last year, the company earned $0.82 earnings per share. On average, equities research analysts anticipate that TC Energy Corporation will post 2.78 EPS for the current fiscal year.

TC Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be paid a dividend of $0.8775 per share. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. TC Energy's dividend payout ratio is currently 102.49%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TRP shares. Scotiabank reiterated an "outperform" rating on shares of TC Energy in a report on Tuesday, July 21st. National Bank Financial upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 4th. BMO Capital Markets reissued an "outperform" rating and set a $99.00 price target on shares of TC Energy in a research note on Friday, July 31st. TD Securities restated a "hold" rating on shares of TC Energy in a report on Thursday, July 16th. Finally, Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of TC Energy in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $89.00.

TC Energy Company Profile

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.

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