Nykredit A S Acquires Shares of 364,925 TC Energy Corporation $TRP

Key Points

• Nykredit A/S acquired 364,925 shares of TC Energy during the second quarter, valued at approximately $24.16 million. Institutional investors collectively own 83.13% of the company.
• TC Energy reported quarterly earnings of $0.68 per share, exceeding analysts’ $0.61 estimate, while revenue reached $2.80 billion. The company declared a quarterly dividend of $0.8775, representing a 5.7% annualized yield.
• TC Energy shares opened at $61.46, below their 50-day and 200-day moving averages. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $89.00.

Nykredit A S bought a new stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 364,925 shares of the pipeline company's stock, valued at approximately $24,158,000.

Several other institutional investors have also recently made changes to their positions in TRP. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in TC Energy in the 4th quarter worth about $25,000. Sterling Capital Management LLC purchased a new position in shares of TC Energy during the first quarter valued at approximately $26,000. Trust Co. of Vermont purchased a new position in shares of TC Energy during the second quarter valued at approximately $33,000. Glen Eagle Advisors LLC bought a new position in shares of TC Energy during the fourth quarter valued at approximately $44,000. Finally, Ascentis Independent Advisors bought a new position in shares of TC Energy during the first quarter valued at approximately $49,000. Institutional investors own 83.13% of the company's stock.

TC Energy Stock Down 0.3%

Shares of NYSE:TRP opened at $61.46 on Friday. The business's 50 day moving average is $64.58 and its 200 day moving average is $65.31. The stock has a market cap of $61.46 billion, a P/E ratio of 25.50 and a beta of 0.66. TC Energy Corporation has a 52-week low of $49.27 and a 52-week high of $71.47. 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 (NYSE:TRP - Get Free Report) TSE: TRP last issued its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.07. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same period in the previous year, the company posted $0.82 EPS. Sell-side analysts predict that TC Energy Corporation will post 2.79 EPS for the current year.

TC Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be issued a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Tuesday, September 29th. TC Energy's payout ratio is presently 102.49%.

Wall Street Analysts Forecast Growth

TRP has been the topic of several recent analyst reports. Morgan Stanley downgraded TC Energy from an "overweight" rating to an "equal weight" rating in a report on Wednesday, June 10th. Scotiabank reaffirmed an "outperform" rating on shares of TC Energy in a research report on Tuesday, July 21st. US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Thursday, August 20th. TD Securities raised shares of TC Energy from a "hold" rating to a "buy" rating in a research note on Monday, September 14th. Finally, Barclays restated an "overweight" rating on shares of TC Energy in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, TC Energy presently has an average rating of "Moderate Buy" and an average price target of $89.00.

TC Energy Profile

TC Energy Corporation is an energy infrastructure company that develops and operates natural gas pipeline, storage and power-generation assets. Its natural gas pipeline network connects major supply basins with utilities, power generators, industrial customers and export markets, while its storage facilities help support the reliability and flexibility of energy systems.

The company serves customers across Canada, the United States and Mexico. Its operations include regulated and contracted natural gas transportation, natural gas storage, and nuclear and other power-generation activities.

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