Intact Investment Management Inc. Has $20.41 Million Stake in TC Energy Corporation (NYSE:TRP)

Intact Investment Management Inc. boosted its holdings in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 23.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 432,104 shares of the pipeline company's stock after purchasing an additional 83,300 shares during the quarter. Intact Investment Management Inc.'s holdings in TC Energy were worth $20,409,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Lowe Wealth Advisors LLC bought a new position in TC Energy in the 1st quarter valued at about $30,000. SBI Securities Co. Ltd. bought a new position in TC Energy in the 4th quarter valued at about $31,000. Synergy Investment Management LLC bought a new position in TC Energy in the 4th quarter valued at about $36,000. Millstone Evans Group LLC bought a new position in TC Energy in the 4th quarter valued at about $41,000. Finally, First Command Advisory Services Inc. bought a new position in TC Energy in the 4th quarter valued at about $46,000. 83.13% of the stock is owned by institutional investors.

TC Energy Trading Down 0.7%

TRP opened at $47.40 on Friday. TC Energy Corporation has a fifty-two week low of $37.07 and a fifty-two week high of $51.99. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.70 and a quick ratio of 0.63. The firm has a market capitalization of $49.28 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 4.59 and a beta of 0.78. The company's 50 day moving average price is $49.65 and its two-hundred day moving average price is $47.68.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). TC Energy had a return on equity of 11.41% and a net margin of 29.17%. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the firm earned $1.02 earnings per share. As a group, research analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.6142 per share. This represents a $2.46 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Monday, June 30th. TC Energy's payout ratio is 77.89%.

Wall Street Analyst Weigh In

Several equities analysts have commented on TRP shares. Citigroup started coverage on shares of TC Energy in a report on Friday, April 4th. They issued a "neutral" rating on the stock. Wall Street Zen lowered shares of TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Finally, Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

About TC Energy

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.

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