Jupiter Topco LLC Invests $95.89 Million in TC Energy Corporation $TRP

Jupiter Topco LLC bought a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,446,296 shares of the pipeline company’s stock, valued at approximately $95,888,000. Jupiter Topco LLC owned 0.14% of TC Energy as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TRP. Annis Gardner Whiting Capital Advisors LLC purchased a new position in TC Energy during the 4th quarter worth approximately $25,000. Sterling Capital Management LLC purchased a new stake in shares of TC Energy in the 1st quarter valued at $26,000. McIlrath & Eck LLC acquired a new stake in shares of TC Energy in the fourth quarter worth $32,000. Trust Co. of Vermont acquired a new stake in shares of TC Energy in the second quarter worth $33,000. Finally, SWAN Capital LLC purchased a new position in shares of TC Energy during the third quarter worth $40,000. 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 reports. BMO Capital Markets restated an “outperform” rating and set a $99.00 target price on shares of TC Energy in a research report on Friday, July 31st. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st. Weiss Ratings reissued a “buy (b)” rating on shares of TC Energy in a report on Friday, July 31st. TD Securities restated a “hold” rating on shares of TC Energy in a research note on Thursday, July 16th. Finally, Morgan Stanley lowered TC Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, TC Energy has a consensus rating of “Moderate Buy” and an average price target of $89.00.

TC Energy Stock Up 1.6%

TRP opened at $62.82 on Thursday. The company has a fifty day moving average of $66.56 and a two-hundred day moving average of $65.34. The stock has a market capitalization of $65.45 billion, a price-to-earnings ratio of 26.07 and a beta of 0.66. TC Energy Corporation has a fifty-two week low of $49.27 and a fifty-two 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 (EPS) 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 period in the prior year, the company posted $0.82 EPS. On average, research analysts expect that TC Energy Corporation will post 2.78 earnings per share for the current year.

TC Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be given a $0.8775 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. TC Energy’s payout ratio is 102.49%.

About TC Energy

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.