TC Energy Corporation $TRP Shares Acquired 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 holdings in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 35.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft boosted its holdings in TC Energy by 4.4% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 6,325 shares of the pipeline company's stock valued at $289,000 after purchasing an additional 264 shares during the last quarter. Benjamin Edwards Inc. increased its position in shares of TC Energy by 1.7% during the fourth quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company's stock valued at $745,000 after acquiring an additional 273 shares during the last quarter. Prudential PLC increased its position in shares of TC Energy by 5.2% during the first quarter. Prudential PLC now owns 6,536 shares of the pipeline company's stock valued at $309,000 after acquiring an additional 326 shares during the last quarter. Avantax Advisory Services Inc. increased its position in shares of TC Energy by 3.6% during the first quarter. Avantax Advisory Services Inc. now owns 9,908 shares of the pipeline company's stock valued at $468,000 after acquiring an additional 344 shares during the last quarter. Finally, FSM Wealth Advisors LLC increased its position in shares of TC Energy by 9.2% during the first quarter. FSM Wealth Advisors LLC now owns 5,152 shares of the pipeline company's stock valued at $243,000 after acquiring an additional 432 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TRP shares. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. US Capital Advisors cut shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday. Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. Finally, Barclays reiterated an "overweight" rating on shares of TC Energy in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Down 0.5%

Shares of TRP traded down $0.2590 during mid-day trading on Friday, hitting $51.2610. 462,605 shares of the company's stock were exchanged, compared to its average volume of 2,322,731. The company has a market cap of $53.31 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 4.97 and a beta of 0.75. TC Energy Corporation has a fifty-two week low of $40.76 and a fifty-two week high of $52.10. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The stock's 50-day moving average is $48.53 and its 200-day moving average is $48.25.

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

TC Energy Increases Dividend

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

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.