Infrastructure Capital Advisors LLC Takes $4.49 Million Position in TC Energy Corporation $TRP

Infrastructure Capital Advisors LLC bought a new stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 67,733 shares of the pipeline company’s stock, valued at approximately $4,490,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in TC Energy in the 4th quarter valued at approximately $25,000. Sterling Capital Management LLC acquired a new stake in shares of TC Energy during the 1st quarter worth approximately $26,000. McIlrath & Eck LLC acquired a new stake in shares of TC Energy during the 4th quarter worth approximately $32,000. Trust Co. of Vermont bought a new stake in shares of TC Energy during the second quarter valued at approximately $33,000. Finally, SWAN Capital LLC bought a new stake in shares of TC Energy during the third quarter valued at approximately $40,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TRP. Royal Bank Of Canada upped their target price on TC Energy from $104.00 to $106.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. BMO Capital Markets reissued an “outperform” rating and issued a $99.00 price target on shares of TC Energy in a report on Friday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of TC Energy in a research note on Friday, July 31st. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. Finally, Barclays reiterated an “overweight” rating on shares of TC Energy in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, TC Energy has an average rating of “Moderate Buy” and a consensus target price of $89.00.

TC Energy Stock Up 0.0%

Shares of NYSE TRP opened at $62.04 on Monday. The stock has a market cap of $64.64 billion, a PE ratio of 25.74 and a beta of 0.66. The business has a fifty day moving average of $66.95 and a two-hundred day moving average of $65.29. TC Energy Corporation has a 52-week low of $49.27 and a 52-week high of $71.47. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.54 and a current ratio of 0.61.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. As a group, equities research analysts expect 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. Stockholders of record on Tuesday, September 29th will be issued a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $3.51 annualized dividend and a dividend yield of 5.7%. TC Energy’s dividend payout ratio (DPR) is presently 102.49%.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.