TC Energy Corporation (NYSE:TRP) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 6.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 352,092 shares of the pipeline company's stock after buying an additional 21,763 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in TC Energy were worth $16,625,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. FIL Ltd increased its holdings in shares of TC Energy by 10.3% in the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock valued at $1,325,558,000 after purchasing an additional 2,644,627 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of TC Energy by 6.2% in the 1st quarter. TD Asset Management Inc now owns 17,455,740 shares of the pipeline company's stock valued at $824,243,000 after purchasing an additional 1,018,590 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of TC Energy by 9.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company's stock valued at $686,763,000 after purchasing an additional 1,280,000 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its holdings in shares of TC Energy by 4.3% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 8,279,997 shares of the pipeline company's stock valued at $385,268,000 after purchasing an additional 337,647 shares in the last quarter. Finally, Blackstone Inc. increased its holdings in shares of TC Energy by 83.8% in the 4th quarter. Blackstone Inc. now owns 7,637,469 shares of the pipeline company's stock valued at $355,371,000 after purchasing an additional 3,482,874 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

Wall Street Analyst Weigh In

TRP has been the subject of a number of research analyst reports. Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Citigroup started coverage on shares of TC Energy in a report on Friday, April 4th. They set a "neutral" rating for the company. Finally, CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Trading Up 1.1%

Shares of TC Energy stock traded up $0.51 during mid-day trading on Friday, hitting $48.39. 1,357,424 shares of the stock were exchanged, compared to its average volume of 2,422,154. TC Energy Corporation has a twelve month low of $37.41 and a twelve month high of $51.99. The stock has a market capitalization of $50.32 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 4.56 and a beta of 0.76. The company has a 50-day simple moving average of $48.58 and a 200 day simple moving average of $47.85. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 1.61.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. TC Energy had a net margin of 29.17% and a return on equity of 11.41%. The company had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same period last year, the company earned $0.79 EPS. Research analysts forecast that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid a dividend of $0.6148 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.46 annualized dividend and a dividend yield of 5.1%. This is an increase from TC Energy's previous quarterly dividend of $0.61. TC Energy's dividend payout ratio is 82.18%.

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.