Premier Fund Managers Ltd Buys 19,000 Shares of TC Energy Corporation $TRP

Key Points

• Premier Fund Managers Ltd increased its stake in TC Energy (TRP) by 9.1% in Q4, buying 19,000 shares to hold 227,174 shares worth about $12.75 million, and institutional investors own roughly 83.13% of the stock.
• TC Energy announced a quarterly dividend of $0.8775 (ex-dividend date June 30, payable July 31), equal to an annualized $3.51 and a 5.4% yield but with a payout ratio of 109.57%.
• Analysts have an average rating of "Moderate Buy" on TRP with an average target price of $78.50 (consensus: 1 Strong Buy, 8 Buy, 5 Hold).

Premier Fund Managers Ltd lifted its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 227,174 shares of the pipeline company's stock after purchasing an additional 19,000 shares during the quarter. Premier Fund Managers Ltd's holdings in TC Energy were worth $12,750,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Sequoia Financial Advisors LLC boosted its position in shares of TC Energy by 6.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 18,900 shares of the pipeline company's stock worth $1,040,000 after purchasing an additional 1,168 shares in the last quarter. K.J. Harrison & Partners Inc boosted its position in shares of TC Energy by 5.9% in the 4th quarter. K.J. Harrison & Partners Inc now owns 72,052 shares of the pipeline company's stock worth $3,973,000 after purchasing an additional 4,000 shares in the last quarter. McIlrath & Eck LLC bought a new stake in shares of TC Energy in the 4th quarter worth approximately $32,000. Amplify Investments LLC boosted its position in shares of TC Energy by 21.4% in the 4th quarter. Amplify Investments LLC now owns 3,774 shares of the pipeline company's stock worth $192,000 after purchasing an additional 666 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its position in shares of TC Energy by 35.0% in the 4th quarter. D.A. Davidson & CO. now owns 13,062 shares of the pipeline company's stock worth $719,000 after purchasing an additional 3,385 shares in the last quarter. 83.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TRP. Citigroup reissued a "neutral" rating on shares of TC Energy in a research report on Thursday, February 19th. Scotiabank restated an "outperform" rating on shares of TC Energy in a report on Monday. National Bank Financial upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Monday. TD Securities restated a "hold" rating on shares of TC Energy in a report on Monday. Finally, Canadian Imperial Bank of Commerce upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $78.50.

TC Energy Price Performance

Shares of NYSE TRP opened at $65.52 on Thursday. TC Energy Corporation has a twelve month low of $46.29 and a twelve month high of $67.31. The firm has a market cap of $68.25 billion, a P/E ratio of 28.44 and a beta of 0.67. The company has a 50 day moving average of $63.24 and a 200 day moving average of $58.04. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.67.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.02. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same period in the previous year, the business earned $0.95 EPS. As a group, research analysts expect that TC Energy Corporation will post 2.77 EPS for the current fiscal year.

TC Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a yield of 5.4%. TC Energy's payout ratio is currently 109.57%.

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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