TD Waterhouse Canada Inc. Grows Position in TC Energy Corporation $TRP

Key Points

• TD Waterhouse Canada Inc. boosted its stake in TC Energy by 1.2% in Q4 to 4,806,132 shares (0.46% of the company) worth about $263.5 million, making TRP its 15th-largest holding (1.6% of the fund's portfolio).
• TC Energy raised its quarterly dividend to $0.8775 (annualized $3.51), implying a ~5.8% yield, though the payout ratio is elevated at roughly 108.6%.
• Quarterly results topped EPS expectations ($0.70 vs. $0.65) but missed on revenue, and analysts maintain a consensus rating of "Moderate Buy" with an average target price of $77.00 (seven Buy, seven Hold).

TD Waterhouse Canada Inc. boosted its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,806,132 shares of the pipeline company's stock after buying an additional 58,624 shares during the quarter. TC Energy makes up 1.6% of TD Waterhouse Canada Inc.'s investment portfolio, making the stock its 15th largest holding. TD Waterhouse Canada Inc. owned 0.46% of TC Energy worth $263,516,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of TRP. AQR Capital Management LLC raised its position in TC Energy by 54.0% in the 1st quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company's stock valued at $538,000 after buying an additional 3,892 shares during the last quarter. Focus Partners Wealth raised its position in TC Energy by 46.1% in the 1st quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company's stock valued at $588,000 after buying an additional 3,929 shares during the last quarter. Intech Investment Management LLC increased its position in shares of TC Energy by 200.7% during the 1st 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 increased its position in shares of TC Energy by 50.5% during the 2nd 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 during the last quarter. Finally, Guggenheim Capital LLC increased its position in shares of TC Energy by 9.9% during the 2nd 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 during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company reaffirmed an "overweight" rating on shares of TC Energy in a research report on Monday, February 16th. BMO Capital Markets reaffirmed an "outperform" rating on shares of TC Energy in a research report on Tuesday, February 17th. TD Securities lowered TC Energy from a "buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Citigroup reaffirmed a "neutral" rating on shares of TC Energy in a research report on Thursday, February 19th. Finally, Wall Street Zen raised TC Energy from a "sell" rating to a "hold" rating in a research report on Saturday, February 14th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, TC Energy has a consensus rating of "Moderate Buy" and an average target price of $77.00.

TC Energy Stock Down 0.0%

TRP stock opened at $60.61 on Monday. The stock has a fifty day moving average of $63.03 and a 200-day moving average of $57.29. TC Energy Corporation has a fifty-two week low of $46.29 and a fifty-two week high of $65.57. The company has a market capitalization of $63.14 billion, a price-to-earnings ratio of 26.08 and a beta of 0.69. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the firm posted $1.05 EPS. As a group, equities research analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a $0.8775 dividend. This is an increase from TC Energy's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.51 annualized dividend and a yield of 5.8%. TC Energy's payout ratio is 108.62%.

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.

Want to see what other hedge funds are holding TRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.