TC Energy Corporation $TRP Stock Bought by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its TC Energy stake by 0.4% in the third quarter, adding 40,969 shares to own 10.66 million shares valued at approximately $623.4 million. Institutional investors collectively hold 83.13% of the company.
• TC Energy shares rose 3.2% to $61.59, while the company reported quarterly EPS of $0.68, beating analyst expectations of $0.61, and revenue of $2.80 billion.
• The company declared a quarterly dividend of C$0.88 per share, representing a 5.7% annualized yield. Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a $92 price target.

TD Waterhouse Canada Inc. lifted its position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,660,905 shares of the pipeline company's stock after buying an additional 40,969 shares during the quarter. TC Energy makes up 1.6% of TD Waterhouse Canada Inc.'s investment portfolio, making the stock its 15th largest position. TD Waterhouse Canada Inc. owned about 1.07% of TC Energy worth $623,355,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Sterling Capital Management LLC acquired a new stake in TC Energy during the first quarter worth approximately $26,000. Trust Co. of Vermont purchased a new stake in TC Energy in the 2nd quarter worth approximately $33,000. Halbert Hargrove Global Advisors LLC acquired a new position in TC Energy in the 3rd quarter valued at $35,000. Aberdeen Wealth Management LLC purchased a new position in shares of TC Energy during the 2nd quarter worth $51,000. Finally, Ascentis Independent Advisors purchased a new position in shares of TC Energy during the 1st quarter worth $49,000. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Trading Up 3.2%

Shares of TC Energy stock traded up $1.92 during trading hours on Friday, hitting $61.59. The company's stock had a trading volume of 2,986,324 shares, compared to its average volume of 3,357,952. 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 Corporation has a 1-year low of $49.27 and a 1-year high of $71.47. The business has a fifty day moving average of $61.41 and a 200 day moving average of $64.74. The company has a market capitalization of $61.59 billion, a PE ratio of 25.56 and a beta of 0.70.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. The business had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.76 billion. During the same period last year, the company posted $0.82 earnings per share. As a group, equities analysts forecast that TC Energy Corporation will post 2.77 EPS for the current year.

TC Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be issued a dividend of C$0.88 per share. 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 currently 104.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group upgraded TC Energy from a "neutral" rating to a "buy" rating and set a $71.00 price objective on the stock in a report on Wednesday, September 30th. BMO Capital Markets reiterated an "outperform" rating and issued a $99.00 target price on shares of TC Energy in a research note on Friday, July 31st. Scotiabank reiterated an "outperform" rating on shares of TC Energy in a research report on Tuesday, July 21st. Royal Bank Of Canada reissued a "moderate buy" rating and issued a $106.00 price target on shares of TC Energy in a research note on Friday, September 11th. Finally, Jefferies Financial Group raised TC Energy from a "hold" rating to a "buy" rating in a research note on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, TC Energy has an average rating of "Moderate Buy" and an average target price of $92.00.

TC Energy Profile

TC Energy Corporation is an energy infrastructure company that develops and operates natural gas pipeline, storage and power-generation assets. Its pipeline network transports natural gas from producing regions to utilities, industrial customers, power generators and export markets, while its storage facilities help support seasonal and daily demand.

The company's operations are concentrated in Canada, the United States and Mexico. Its major systems include the Canadian Mainline, which connects Western Canadian natural gas supplies with markets in Eastern Canada and the United States, as well as U.S.

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