TC Energy Corporation $TRP Holdings Boosted by Mufg Securities Canada LTD.

Key Points

• Mufg Securities Canada LTD. increased its TC Energy stake by 37.9% in the second quarter, acquiring 1.23 million additional shares. TC Energy now represents about 7.9% of the fund’s portfolio, while institutional investors collectively own 83.13% of the stock.
• TC Energy reported quarterly adjusted earnings of $0.68 per share, topping the $0.61 consensus estimate, with revenue of $2.80 billion. Analysts expect $2.78 EPS for the full fiscal year.
• The company declared a quarterly dividend of $0.8775 per share, equivalent to a 5.6% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $89.00.

Mufg Securities Canada LTD. increased its position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 37.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,473,642 shares of the pipeline company's stock after acquiring an additional 1,230,120 shares during the quarter. TC Energy makes up about 7.9% of Mufg Securities Canada LTD.'s portfolio, making the stock its 2nd biggest holding. Mufg Securities Canada LTD. owned approximately 0.43% of TC Energy worth $295,781,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRP. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of TC Energy during the 4th quarter worth about $25,000. Sterling Capital Management LLC purchased a new position in TC Energy during the first quarter worth about $26,000. McIlrath & Eck LLC acquired a new stake in shares of TC Energy during the fourth quarter valued at about $32,000. Trust Co. of Vermont acquired a new stake in shares of TC Energy during the second quarter valued at about $33,000. Finally, SWAN Capital LLC purchased a new stake in shares of TC Energy in the 3rd quarter valued at approximately $40,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Trading Up 1.1%

TRP opened at $62.57 on Tuesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.54 and a current ratio of 0.61. TC Energy Corporation has a one year low of $49.27 and a one year high of $71.47. The company has a market cap of $65.19 billion, a P/E ratio of 25.96 and a beta of 0.66. The business's 50-day simple moving average is $66.21 and its 200-day simple moving average is $65.39.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same period in the prior year, the firm posted $0.82 earnings per share. As a group, equities research analysts expect that TC Energy Corporation will post 2.78 EPS for the current fiscal year.

TC Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be issued a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $3.51 annualized dividend and a dividend yield of 5.6%. TC Energy's dividend payout ratio (DPR) is presently 102.49%.

Analyst Ratings Changes

Several analysts recently weighed in on TRP shares. TD Securities reiterated a "hold" rating on shares of TC Energy in a report on Thursday, July 16th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of TC Energy in a research note on Friday, July 31st. Jefferies Financial Group raised TC Energy from a "hold" rating to a "buy" rating in a research note on Tuesday. Scotiabank restated an "outperform" rating on shares of TC Energy in a report on Tuesday, July 21st. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of TC Energy in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, TC Energy currently has a consensus rating of "Moderate Buy" and an average target price of $89.00.

TC Energy 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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