Swiss National Bank Acquires 746,300 Shares of TC Energy Corporation $TRP

Swiss National Bank raised its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 27.1% in the first quarter, Holdings Channel reports. The institutional investor owned 3,502,801 shares of the pipeline company’s stock after buying an additional 746,300 shares during the quarter. Swiss National Bank’s holdings in TC Energy were worth $219,021,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of TRP. AQR Capital Management LLC raised its stake in TC Energy by 54.0% during the 1st quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock valued at $538,000 after purchasing an additional 3,892 shares during the last quarter. Focus Partners Wealth grew its position in TC Energy by 46.1% in the 1st quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock worth $588,000 after purchasing an additional 3,929 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of TC Energy by 200.7% during the 1st quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock worth $1,269,000 after purchasing an additional 17,939 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of TC Energy by 50.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,706 shares of the pipeline company’s stock worth $181,000 after purchasing an additional 1,243 shares during the period. Finally, Guggenheim Capital LLC raised its position in shares of TC Energy by 9.9% during the second quarter. Guggenheim Capital LLC now owns 16,758 shares of the pipeline company’s stock valued at $818,000 after buying an additional 1,511 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Trading Down 0.0%

Shares of TRP stock opened at $69.75 on Monday. The firm has a fifty day moving average of $68.37 and a 200-day moving average of $63.50. The stock has a market cap of $72.68 billion, a price-to-earnings ratio of 30.28 and a beta of 0.66. TC Energy Corporation has a 52-week low of $46.61 and a 52-week high of $71.47. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same period in the previous year, the business earned $0.95 EPS. On average, equities research analysts forecast that TC Energy Corporation will post 2.72 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders 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 yield of 5.0%. TC Energy’s dividend payout ratio (DPR) is currently 107.39%.

Analyst Upgrades and Downgrades

TRP has been the subject of several research reports. Barclays reiterated an “overweight” rating on shares of TC Energy in a research note on Thursday. The Goldman Sachs Group raised TC Energy from a “sell” rating to a “neutral” rating and upped their price target for the company from $53.00 to $62.00 in a report on Monday, April 20th. Morgan Stanley downgraded TC Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 10th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.