TC Energy Corporation $TRP Shares Bought by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. increased its stake in TC Energy Corporation by 35.5%, owning 302,252 shares worth approximately $14.28 million after acquiring an additional 79,261 shares in the first quarter.
• TC Energy's recent quarterly earnings report showed an EPS of $0.59, exceeding analysts' expectations of $0.56, while the company's revenue for the quarter was $1.82 billion against estimated $2.56 billion.
• The company has announced a quarterly dividend of $0.6148 per share, increasing from the previous dividend, contributing to an annualized dividend yield of 4.8%.

Northwest & Ethical Investments L.P. increased its position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 35.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 302,252 shares of the pipeline company's stock after purchasing an additional 79,261 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in TC Energy were worth $14,283,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Partners Group Holding AG boosted its stake in TC Energy by 22.9% during the first quarter. Partners Group Holding AG now owns 748,084 shares of the pipeline company's stock worth $35,767,000 after buying an additional 139,633 shares during the last quarter. American Century Companies Inc. lifted its position in TC Energy by 1.6% in the first quarter. American Century Companies Inc. now owns 250,870 shares of the pipeline company's stock valued at $11,847,000 after buying an additional 4,015 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of TC Energy during the 1st quarter worth approximately $1,884,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of TC Energy in the first quarter valued at $273,000. Finally, Gulf International Bank UK Ltd grew its position in TC Energy by 2,638.4% in the 1st quarter. Gulf International Bank UK Ltd now owns 59,478 shares of the pipeline company's stock valued at $2,808,000 after acquiring an additional 57,306 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

Wall Street Analysts Forecast Growth

TRP has been the subject of several recent research reports. Barclays reiterated an "overweight" rating on shares of TC Energy in a research note on Thursday, August 14th. CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Finally, Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, TC Energy currently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Stock Performance

TRP traded down $0.41 during trading on Thursday, hitting $51.46. 1,160,619 shares of the stock were exchanged, compared to its average volume of 2,334,354. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. TC Energy Corporation has a 1-year low of $40.13 and a 1-year high of $52.10. The stock has a fifty day moving average price of $48.50 and a two-hundred day moving average price of $48.21. The firm has a market capitalization of $53.52 billion, a P/E ratio of 17.56, a PEG ratio of 4.90 and a beta of 0.75.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same period last year, the firm posted $0.79 earnings per share. As a group, sell-side analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a $0.6148 dividend. This is a positive change from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date is Monday, September 29th. This represents a $2.46 dividend on an annualized basis and a yield of 4.8%. TC Energy's payout ratio is 85.32%.

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.