60,068 Shares in TC Energy Corporation $TRP Bought by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA bought a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 60,068 shares of the pipeline company’s stock, valued at approximately $3,760,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sterling Capital Management LLC bought a new stake in shares of TC Energy in the first quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of TC Energy during the fourth quarter worth about $25,000. Trust Co. of Vermont bought a new position in shares of TC Energy during the fourth quarter worth about $28,000. McIlrath & Eck LLC bought a new position in shares of TC Energy during the fourth quarter worth about $32,000. Finally, SWAN Capital LLC bought a new position in shares of TC Energy during the third quarter worth about $40,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

NYSE:TRP opened at $69.66 on Friday. TC Energy Corporation has a 52-week low of $46.29 and a 52-week high of $71.47. The company has a market cap of $69.66 billion, a P/E ratio of 30.23 and a beta of 0.66. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65. The stock’s 50-day simple moving average is $66.86 and its 200 day simple moving average is $62.06.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.20 billion. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.During the same period in the prior year, the firm posted $0.95 earnings per share. As a group, sell-side analysts forecast that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.0%. TC Energy’s dividend payout ratio is currently 109.57%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TRP shares. TD Securities restated a “hold” rating on shares of TC Energy in a research note on Monday, May 4th. The Goldman Sachs Group raised shares of TC Energy from a “sell” rating to a “neutral” rating and raised their price target for the stock from $53.00 to $62.00 in a research note on Monday, April 20th. Royal Bank Of Canada lifted their price objective on shares of TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Finally, Barclays restated an “overweight” rating on shares of TC Energy in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.50.

TC Energy 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.