Vident Advisory LLC Grows Stake in TC Energy Corporation $TRP

Key Points

• Vident Advisory LLC increased its holdings in TC Energy by 5.0% during Q1, now owning 166,037 shares worth approximately $7.84 million.
• Several large investors significantly raised their positions in TC Energy, including Goldman Sachs with an increase of 2,565.1%, owning over 16 million shares valued at $769.8 million.
• TC Energy announced a quarterly dividend increase to $0.6148 per share, yielding a 4.7% annualized return, payable on October 31st.

Vident Advisory LLC boosted its holdings in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 166,037 shares of the pipeline company's stock after purchasing an additional 7,972 shares during the period. Vident Advisory LLC's holdings in TC Energy were worth $7,840,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Lowe Wealth Advisors LLC bought a new stake in shares of TC Energy during the 1st quarter valued at $30,000. TruNorth Capital Management LLC bought a new position in shares of TC Energy during the 1st quarter valued at about $45,000. Truvestments Capital LLC bought a new position in shares of TC Energy during the 1st quarter valued at about $45,000. Golden State Wealth Management LLC increased its position in shares of TC Energy by 222.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock valued at $51,000 after purchasing an additional 742 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its position in shares of TC Energy by 75.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company's stock valued at $55,000 after purchasing an additional 501 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. US Capital Advisors lowered TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Barclays restated an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Trading Up 0.8%

NYSE TRP traded up $0.41 on Wednesday, hitting $52.10. The company's stock had a trading volume of 701,449 shares, compared to its average volume of 2,287,932. TC Energy Corporation has a 52-week low of $40.76 and a 52-week high of $52.28. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. The company's 50-day simple moving average is $49.08 and its 200 day simple moving average is $48.51. The firm has a market cap of $54.18 billion, a P/E ratio of 17.78, a PEG ratio of 4.98 and a beta of 0.77.

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 the consensus estimate of $0.56 by $0.03. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the company earned $0.79 EPS. Research analysts predict that TC Energy Corporation will post 2.63 EPS 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. Investors 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. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.46 dividend on an annualized basis and a yield of 4.7%. TC Energy's dividend 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.