Tidal Investments LLC Has $3.82 Million Stock Holdings in TC Energy Corporation $TRP

Key Points

• Tidal Investments increased its TC Energy position by 359.3% in the second quarter, owning 57,665 shares valued at approximately $3.82 million. Institutional investors and hedge funds collectively own 83.13% of the company.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $89.00; recent ratings included upgrades from Jefferies and US Capital Advisors.
• TC Energy reported quarterly EPS of $0.68, beating estimates of $0.61, and revenue of $2.80 billion. The company declared a quarterly dividend of $0.8775 per share, implying a 5.7% annualized yield.

Tidal Investments LLC boosted its position in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 359.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,665 shares of the pipeline company's stock after buying an additional 45,110 shares during the period. Tidal Investments LLC's holdings in TC Energy were worth $3,819,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Cidel Asset Management Inc. boosted its holdings in TC Energy by 18.8% in the second quarter. Cidel Asset Management Inc. now owns 21,426 shares of the pipeline company's stock worth $1,418,000 after acquiring an additional 3,390 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of TC Energy by 89.6% during the second quarter. IFP Advisors Inc now owns 2,943 shares of the pipeline company's stock valued at $195,000 after acquiring an additional 1,391 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of TC Energy by 3,030.3% during the second quarter. Squarepoint Ops LLC now owns 30,417 shares of the pipeline company's stock valued at $2,016,000 after acquiring an additional 31,455 shares in the last quarter. Nykredit A S acquired a new position in shares of TC Energy during the second quarter worth approximately $24,158,000. Finally, Allianz Asset Management GmbH raised its position in shares of TC Energy by 14.1% during the second quarter. Allianz Asset Management GmbH now owns 618,384 shares of the pipeline company's stock worth $40,936,000 after purchasing an additional 76,601 shares during the period. 83.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TRP has been the subject of several research reports. Jefferies Financial Group raised shares of TC Energy from a "hold" rating to a "buy" rating in a research report on Tuesday, September 1st. Scotiabank restated an "outperform" rating on shares of TC Energy in a report on Tuesday, July 21st. Morgan Stanley downgraded shares of TC Energy from an "overweight" rating to an "equal weight" rating in a report on Wednesday, June 10th. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Thursday, August 20th. Finally, Weiss Ratings reiterated 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, ten have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $89.00.

TC Energy Stock Performance

Shares of TC Energy stock opened at $61.18 on Tuesday. TC Energy Corporation has a 52 week low of $49.27 and a 52 week high of $71.47. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. The business has a 50 day moving average price of $65.13 and a 200-day moving average price of $65.39. The company has a market cap of $61.18 billion, a PE ratio of 25.38 and a beta of 0.66.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.The company had revenue of $2.80 billion for the quarter, compared to analysts' expectations of $2.76 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. Equities analysts anticipate that TC Energy Corporation will post 2.78 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be issued a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy's payout ratio is currently 104.98%.

About TC Energy

TC Energy Corporation is an energy infrastructure company that develops and operates natural gas pipeline, storage and power-generation assets. Its natural gas pipeline network connects major supply basins with utilities, power generators, industrial customers and export markets, while its storage facilities help support the reliability and flexibility of energy systems.

The company serves customers across Canada, the United States and Mexico. Its operations include regulated and contracted natural gas transportation, natural gas storage, and nuclear and other power-generation activities.

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