TC Energy Corporation $TRP Stock Holdings Increased by Chickasaw Capital Management LLC

Key Points

• Chickasaw Capital Management increased its TC Energy stake by 2,473.7% in the third quarter, adding 193,045 shares to hold 200,849 shares worth approximately $11.6 million. Institutional investors and hedge funds collectively own 83.13% of the stock.
• TC Energy reported quarterly EPS of $0.68, topping analysts’ $0.61 estimate, while revenue of $2.80 billion also exceeded expectations. The company declared a quarterly dividend of C$0.88, representing an annualized yield of about 6.0%.
• Analysts maintain a consensus “Moderate Buy” rating on TRP, with an average price target of $92.00 compared with the reported share price of $58.93.

Chickasaw Capital Management LLC boosted its stake in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 2,473.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,849 shares of the pipeline company's stock after buying an additional 193,045 shares during the quarter. TC Energy accounts for about 0.4% of Chickasaw Capital Management LLC's holdings, making the stock its 24th biggest holding. Chickasaw Capital Management LLC's holdings in TC Energy were worth $11,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC purchased a new stake in shares of TC Energy in the 1st quarter valued at approximately $26,000. Trust Co. of Vermont purchased a new position in shares of TC Energy during the 2nd quarter worth approximately $33,000. Aberdeen Wealth Management LLC acquired a new stake in TC Energy in the 2nd quarter valued at approximately $51,000. Ascentis Independent Advisors acquired a new stake in TC Energy in the 1st quarter valued at approximately $49,000. Finally, Glen Eagle Advisors LLC purchased a new stake in TC Energy in the fourth quarter valued at approximately $44,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Performance

NYSE:TRP opened at $58.93 on Thursday. TC Energy Corporation has a 52 week low of $49.27 and a 52 week high of $71.47. The company has a fifty day simple moving average of $62.07 and a two-hundred day simple moving average of $64.90. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. The company has a market cap of $58.93 billion, a price-to-earnings ratio of 24.45 and a beta of 0.70.

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

TC Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be paid a C$0.88 dividend. This represents a $3.51 annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Tuesday, September 29th. TC Energy's dividend payout ratio (DPR) is presently 104.98%.

Analyst Upgrades and Downgrades

A number of research firms have commented on TRP. Royal Bank Of Canada restated a "moderate buy" rating and set a $106.00 price target on shares of TC Energy in a research note on Friday, September 11th. Jefferies Financial Group upgraded TC Energy from a "hold" rating to a "buy" rating in a report on Tuesday, September 1st. BMO Capital Markets reissued an "outperform" rating and set a $99.00 target price on shares of TC Energy in a research note on Friday, July 31st. Raymond James Financial restated a "market perform" rating on shares of TC Energy in a report on Wednesday, September 16th. Finally, The Goldman Sachs Group raised TC Energy from a "neutral" rating to a "buy" rating and set a $71.00 target price for the company in a research report on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $92.00.

TC Energy Company 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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