TD Waterhouse Canada Inc. Acquires 216,396 Shares of TC Energy Corporation $TRP

TD Waterhouse Canada Inc. lifted its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 4.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,620,139 shares of the pipeline company’s stock after acquiring an additional 216,396 shares during the period. TC Energy accounts for approximately 1.6% of TD Waterhouse Canada Inc.’s holdings, making the stock its 14th biggest holding. TD Waterhouse Canada Inc. owned 0.44% of TC Energy worth $220,909,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hilltop National Bank purchased a new stake in TC Energy during the second quarter valued at approximately $32,000. Harbor Asset Planning Inc. purchased a new stake in TC Energy during the 2nd quarter valued at $43,000. Truvestments Capital LLC bought a new stake in TC Energy in the first quarter worth $45,000. SouthState Corp boosted its stake in TC Energy by 2,757.1% during the second quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock worth $49,000 after buying an additional 965 shares during the period. Finally, SVB Wealth LLC bought a new position in TC Energy during the first quarter valued at $72,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of TRP stock opened at $54.17 on Wednesday. The company has a market capitalization of $56.37 billion, a P/E ratio of 18.49, a P/E/G ratio of 4.82 and a beta of 0.73. The company’s 50-day simple moving average is $52.51 and its two-hundred day simple moving average is $50.52. TC Energy Corporation has a one year low of $43.51 and a one year high of $55.37. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54.

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

TC Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

TRP has been the subject of several analyst reports. Cibc Captl Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Cibc World Mkts downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. BMO Capital Markets raised TC Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, November 7th. TD Securities reiterated a “buy” rating on shares of TC Energy in a report on Friday, October 17th. Finally, Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Two 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. According to data from MarketBeat, the stock presently 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.