Candriam S.C.A. Trims Stock Holdings in TC Energy Corporation $TRP

Candriam S.C.A. decreased its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 34.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,797 shares of the pipeline company’s stock after selling 2,994 shares during the quarter. Candriam S.C.A.’s holdings in TC Energy were worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Park Avenue Securities LLC grew its position in shares of TC Energy by 2.3% in the second quarter. Park Avenue Securities LLC now owns 9,947 shares of the pipeline company’s stock valued at $485,000 after purchasing an additional 225 shares in the last quarter. Gold Investment Management Ltd. boosted its stake in TC Energy by 2.5% in the 2nd quarter. Gold Investment Management Ltd. now owns 9,656 shares of the pipeline company’s stock worth $471,000 after purchasing an additional 232 shares during the period. Baader Bank Aktiengesellschaft grew its holdings in TC Energy by 4.4% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 6,325 shares of the pipeline company’s stock valued at $289,000 after buying an additional 264 shares in the last quarter. Compound Planning Inc. increased its position in shares of TC Energy by 2.1% during the first quarter. Compound Planning Inc. now owns 13,806 shares of the pipeline company’s stock valued at $652,000 after buying an additional 288 shares during the period. Finally, Prudential PLC lifted its holdings in shares of TC Energy by 5.2% in the first quarter. Prudential PLC now owns 6,536 shares of the pipeline company’s stock worth $309,000 after buying an additional 326 shares in the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Performance

Shares of NYSE TRP opened at $54.56 on Tuesday. The stock’s 50-day moving average is $52.47 and its 200 day moving average is $50.50. The stock has a market cap of $56.78 billion, a price-to-earnings ratio of 18.62, a P/E/G ratio of 4.82 and a beta of 0.73. TC Energy Corporation has a 1-year low of $43.51 and a 1-year high of $55.37. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, meeting analysts’ consensus estimates of $0.56. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $2.63 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 business earned $1.03 earnings per share. On average, sell-side analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date is Wednesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio is 103.88%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Cibc Captl Mkts raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Cibc World Mkts downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a report on Tuesday, October 14th. BMO Capital Markets upgraded TC Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, November 7th. Finally, TD Securities reissued a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

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.