TC Energy Corporation $TRP Stock Position Lifted by BROOKFIELD Corp ON

Key Points

• BROOKFIELD Corp ON increased its TC Energy stake by 8.9% in the first quarter, purchasing 141,556 additional shares and bringing its total ownership to 1.74 million shares valued at approximately $108.6 million.
• TC Energy reported quarterly EPS of $0.72, exceeding estimates of $0.70, while revenue of $2.04 billion fell short of the $2.20 billion consensus estimate. Institutional investors own 83.13% of the company.
• TC Energy declared a quarterly dividend of $0.8775 per share, equivalent to an annualized yield of about 5.0%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $78.50.

BROOKFIELD Corp ON raised its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 8.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,735,576 shares of the pipeline company's stock after buying an additional 141,556 shares during the quarter. TC Energy accounts for about 0.1% of BROOKFIELD Corp ON's holdings, making the stock its 23rd biggest position. BROOKFIELD Corp ON owned approximately 0.17% of TC Energy worth $108,647,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TRP. AQR Capital Management LLC increased its stake in shares of TC Energy by 54.0% in the first quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company's stock worth $538,000 after acquiring an additional 3,892 shares during the last quarter. Focus Partners Wealth boosted its position in TC Energy by 46.1% during the first quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company's stock valued at $588,000 after purchasing an additional 3,929 shares during the last quarter. Intech Investment Management LLC boosted its position in TC Energy by 200.7% during the first quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company's stock valued at $1,269,000 after purchasing an additional 17,939 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in TC Energy by 50.5% in the second quarter. EverSource Wealth Advisors LLC now owns 3,706 shares of the pipeline company's stock valued at $181,000 after purchasing an additional 1,243 shares in the last quarter. Finally, Guggenheim Capital LLC grew its stake in TC Energy by 9.9% in the second quarter. Guggenheim Capital LLC now owns 16,758 shares of the pipeline company's stock valued at $818,000 after purchasing an additional 1,511 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Trading Down 0.0%

NYSE:TRP opened at $70.58 on Monday. The company's 50 day moving average is $68.61 and its 200-day moving average is $63.99. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. TC Energy Corporation has a 12 month low of $46.61 and a 12 month high of $71.47. The firm has a market cap of $73.54 billion, a price-to-earnings ratio of 30.63 and a beta of 0.66.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the firm earned $0.95 EPS. Equities analysts anticipate that TC Energy Corporation will post 2.72 EPS for the current year.

TC Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Tuesday, June 30th. TC Energy's dividend payout ratio is 107.39%.

Analyst Ratings Changes

A number of research firms have recently weighed in on TRP. The Goldman Sachs Group raised TC Energy from a "sell" rating to a "neutral" rating and raised their price target for the stock from $53.00 to $62.00 in a research note on Monday, April 20th. National Bank Financial raised TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 4th. BMO Capital Markets restated an "outperform" rating on shares of TC Energy in a report on Monday, May 4th. Weiss Ratings lowered shares of TC Energy from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Finally, Morgan Stanley cut shares of TC Energy from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, TC Energy currently has an average rating of "Moderate Buy" and an average price target of $78.50.

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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