Tectonic Advisors LLC Boosts Stake in TC Energy Corporation $TRP

Key Points

• Tectonic Advisors LLC increased its stake in TC Energy Corporation by 54.5% during the second quarter, bringing its total shareholding to 19,192 shares valued at $936,000.
• TC Energy recently declared a quarterly dividend of $0.6148 per share, representing a 4.7% dividend yield and an increase from the previous dividend of $0.61.
• Analysts have mixed ratings for TC Energy, with one lowering its rating to "sell" while others affirm a "buy" rating, resulting in an overall average rating of "Moderate Buy" with a consensus price target of $62.00.

Tectonic Advisors LLC increased its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 54.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,192 shares of the pipeline company's stock after buying an additional 6,771 shares during the period. Tectonic Advisors LLC's holdings in TC Energy were worth $936,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of TC Energy by 1.6% during the first quarter. Vanguard Group Inc. now owns 44,397,978 shares of the pipeline company's stock valued at $2,096,739,000 after buying an additional 710,837 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in TC Energy by 34.2% in the first quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company's stock worth $935,627,000 after purchasing an additional 5,053,228 shares in the last quarter. TD Asset Management Inc lifted its holdings in TC Energy by 6.2% during the first quarter. TD Asset Management Inc now owns 17,455,740 shares of the pipeline company's stock worth $824,243,000 after buying an additional 1,018,590 shares during the period. Bank of Nova Scotia lifted its holdings in TC Energy by 80.3% during the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company's stock worth $802,164,000 after buying an additional 7,562,887 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in TC Energy by 2,565.1% during the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company's stock worth $769,815,000 after buying an additional 15,694,336 shares during the period. 83.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TRP shares. Wall Street Zen lowered TC Energy from a "hold" rating to a "sell" rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of TC Energy in a research report on Wednesday. Barclays reaffirmed an "overweight" rating on shares of TC Energy in a research report on Thursday, August 14th. Finally, US Capital Advisors cut TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, TC Energy presently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Trading Down 2.8%

TRP opened at $52.70 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The company's 50 day simple moving average is $51.92 and its two-hundred day simple moving average is $49.75. TC Energy Corporation has a 1-year low of $43.51 and a 1-year high of $55.37. The firm has a market capitalization of $54.83 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 5.07 and a beta of 0.75.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same period last year, the company posted $0.79 EPS. Analysts expect that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a dividend of $0.6148 per share. The ex-dividend date is Monday, September 29th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.7%. This is an increase from TC Energy's previous quarterly dividend of $0.61. TC Energy's payout ratio is 84.30%.

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.

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