Swiss National Bank Acquires 204,700 Shares of TC Energy Corporation $TRP

Swiss National Bank increased its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 6.9% in the second quarter, Holdings Channel.com reports. The fund owned 3,158,301 shares of the pipeline company’s stock after purchasing an additional 204,700 shares during the period. Swiss National Bank’s holdings in TC Energy were worth $153,595,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Hilltop National Bank bought a new position in shares of TC Energy during the second quarter valued at approximately $32,000. Harbor Asset Planning Inc. acquired a new stake in shares of TC Energy in the 2nd quarter worth $43,000. Truvestments Capital LLC purchased a new position in shares of TC Energy in the first quarter worth $45,000. SouthState Corp boosted its position in TC Energy by 2,757.1% in the second quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock valued at $49,000 after buying an additional 965 shares during the last quarter. Finally, SVB Wealth LLC purchased a new position in shares of TC Energy during the 1st quarter valued at about $72,000. Institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TRP shares. BMO Capital Markets raised TC Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, November 7th. Cibc World Mkts downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Royal Bank Of Canada raised their target price on shares of TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Wall Street Zen lowered shares of TC Energy from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Finally, Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, TC Energy has an average rating of “Moderate Buy” and a consensus price target of $84.00.

TC Energy Stock Performance

NYSE:TRP opened at $53.92 on Friday. The firm’s 50 day moving average is $52.64 and its two-hundred day moving average is $50.60. TC Energy Corporation has a fifty-two week low of $43.51 and a fifty-two week high of $55.37. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. The company has a market cap of $56.10 billion, a P/E ratio of 18.40, a P/E/G ratio of 4.82 and a beta of 0.73.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $2.63 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same quarter in the prior year, the business earned $1.03 earnings per share. Analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.85 per share. The ex-dividend date is Wednesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 annualized dividend and a yield of 6.3%. TC Energy’s payout ratio is presently 103.88%.

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.