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

Intact Investment Management Inc. increased its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 23.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 432,104 shares of the pipeline company's stock after acquiring 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 quarter.

Several other hedge funds have also modified their holdings of the stock. Lowe Wealth Advisors LLC acquired a new position in TC Energy in the 1st quarter worth approximately $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of TC Energy in the fourth quarter valued at $31,000. Synergy Investment Management LLC acquired a new stake in shares of TC Energy in the fourth quarter worth $36,000. Millstone Evans Group LLC purchased a new position in shares of TC Energy during the fourth quarter valued at $41,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of TC Energy during the fourth quarter valued at $46,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Performance

Shares of TRP traded down $0.03 during trading hours on Tuesday, reaching $47.21. 2,153,626 shares of the company traded hands, compared to its average volume of 2,473,371. TC Energy Corporation has a 1-year low of $37.07 and a 1-year high of $51.99. The stock has a market cap of $49.09 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 4.54 and a beta of 0.78. The stock's fifty day moving average is $49.64 and its 200 day moving average is $47.65. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.63 and a current ratio of 0.70.

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

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.6142 dividend. This represents a $2.46 annualized dividend and a yield of 5.20%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio (DPR) is presently 77.89%.

Analyst Ratings Changes

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

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.