EFG International AG Takes $2.21 Million Position in TC Energy Corporation $TRP

EFG International AG purchased a new position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the second quarter, HoldingsChannel.com reports. The fund purchased 33,278 shares of the pipeline company’s stock, valued at approximately $2,208,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TRP. Ontario Teachers Pension Plan Board bought a new stake in TC Energy in the 2nd quarter worth approximately $273,917,000. Korea Investment CORP bought a new position in shares of TC Energy during the 2nd quarter valued at $30,152,000. Canada Pension Plan Investment Board purchased a new position in shares of TC Energy in the 2nd quarter worth $1,148,244,000. Generali Asset Management SPA SGR boosted its stake in shares of TC Energy by 261.0% in the 4th quarter. Generali Asset Management SPA SGR now owns 74,906 shares of the pipeline company’s stock worth $4,121,000 after buying an additional 54,154 shares during the last quarter. Finally, BROOKFIELD Corp ON grew its holdings in shares of TC Energy by 8.9% in the first quarter. BROOKFIELD Corp ON now owns 1,735,576 shares of the pipeline company’s stock worth $108,647,000 after acquiring an additional 141,556 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on TRP shares. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research report on Tuesday, July 21st. Royal Bank Of Canada raised their target price on TC Energy from $104.00 to $106.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. National Bank Financial upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Morgan Stanley lowered shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 10th. Finally, US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.

TC Energy Price Performance

Shares of TC Energy stock opened at $62.82 on Thursday. The stock has a market cap of $65.45 billion, a P/E ratio of 26.07 and a beta of 0.66. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.54 and a current ratio of 0.61. The stock’s fifty day moving average is $66.56 and its 200 day moving average is $65.34. TC Energy Corporation has a one year low of $49.27 and a one year high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.During the same quarter in the previous year, the company posted $0.82 earnings per share. Sell-side analysts anticipate that TC Energy Corporation will post 2.78 earnings per share for the current year.

TC Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be paid a dividend of $0.8775 per share. 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%.

TC Energy Company 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.