TC Energy Corporation $TRP Holdings Lifted by SouthState Corp

SouthState Corp boosted its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 2,757.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,000 shares of the pipeline company’s stock after purchasing an additional 965 shares during the quarter. SouthState Corp’s holdings in TC Energy were worth $49,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of TRP. Goldman Sachs Group Inc. grew its stake in shares of TC Energy by 2,565.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock worth $769,815,000 after purchasing an additional 15,694,336 shares during the last quarter. Bank of Nova Scotia boosted its holdings in TC Energy by 80.3% during the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock worth $802,164,000 after buying an additional 7,562,887 shares in the last quarter. Canada Pension Plan Investment Board grew its position in TC Energy by 34.2% in the first quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock worth $935,627,000 after buying an additional 5,053,228 shares during the last quarter. Deutsche Bank AG grew its position in TC Energy by 175.1% in the first quarter. Deutsche Bank AG now owns 5,758,203 shares of the pipeline company’s stock worth $271,845,000 after buying an additional 3,664,862 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of TC Energy by 31.3% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,418,858 shares of the pipeline company’s stock valued at $444,885,000 after buying an additional 2,242,918 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Performance

Shares of TRP stock opened at $52.18 on Friday. TC Energy Corporation has a fifty-two week low of $43.51 and a fifty-two week high of $55.37. The stock’s 50-day moving average is $52.17 and its two-hundred day moving average is $50.31. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The firm has a market cap of $54.29 billion, a P/E ratio of 17.81, a PEG ratio of 4.82 and a beta of 0.73.

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

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a $0.85 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date is Wednesday, December 31st. TC Energy’s dividend payout ratio is currently 84.30%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wall Street Zen lowered TC Energy from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. TD Securities restated a “buy” rating on shares of TC Energy in a report on Friday, October 17th. Cibc World Mkts cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Cibc Captl Mkts upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Finally, US Capital Advisors lowered shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, TC Energy has an average rating of “Moderate Buy” and an average 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.