TD Asset Management Inc Has $1.07 Billion Stock Holdings in TC Energy Corporation $TRP

Key Points

• TD Asset Management reduced its TC Energy stake by 25.6% in the second quarter, selling 5.55 million shares and retaining 16.13 million shares worth approximately $1.07 billion.
• TC Energy reported quarterly EPS of $0.68, beating estimates of $0.61, while revenue reached $2.80 billion. The stock recently traded at $64.00, with institutional investors owning 83.13% of outstanding shares.
• The company declared a quarterly dividend of $0.8775, equivalent to a 5.5% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $89.00.

TD Asset Management Inc decreased its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 25.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,134,910 shares of the pipeline company's stock after selling 5,547,203 shares during the quarter. TC Energy accounts for about 0.9% of TD Asset Management Inc's investment portfolio, making the stock its 26th largest holding. TD Asset Management Inc owned 1.55% of TC Energy worth $1,068,117,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sterling Capital Management LLC acquired a new position in shares of TC Energy in the first quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in TC Energy in the 4th quarter worth approximately $25,000. McIlrath & Eck LLC purchased a new position in TC Energy during the 4th quarter worth approximately $32,000. SWAN Capital LLC acquired a new stake in TC Energy during the 3rd quarter valued at $40,000. Finally, Ascentis Independent Advisors purchased a new stake in shares of TC Energy in the first quarter valued at $49,000. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Trading Up 1.4%

TC Energy stock opened at $64.00 on Friday. TC Energy Corporation has a 52 week low of $49.27 and a 52 week high of $71.47. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.54 and a current ratio of 0.61. The firm has a market capitalization of $66.68 billion, a PE ratio of 26.56 and a beta of 0.66. The business's 50-day simple moving average is $67.53 and its 200-day simple moving average is $65.06.

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. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.During the same quarter last year, the firm posted $0.82 EPS. Equities research analysts forecast that TC Energy Corporation will post 2.75 earnings per share for the current 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 $0.8775 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 annualized dividend and a dividend yield of 5.5%. TC Energy's dividend payout ratio (DPR) is presently 103.73%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Morgan Stanley lowered TC Energy from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, June 10th. Barclays reissued an "overweight" rating on shares of TC Energy in a research note on Thursday, July 16th. TD Securities reaffirmed a "hold" rating on shares of TC Energy in a research report on Thursday, July 16th. The Goldman Sachs Group raised shares of TC Energy from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $53.00 to $62.00 in a research report on Monday, April 20th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of TC Energy in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $89.00.

TC Energy Company 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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