Ieq Capital LLC Takes Position in TC Energy Corporation $TRP

Ieq Capital LLC acquired a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the 2nd quarter, Holdings Channel reports. The firm acquired 22,372 shares of the pipeline company’s stock, valued at approximately $1,483,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TRP. Annis Gardner Whiting Capital Advisors LLC bought a new position in TC Energy during the fourth quarter worth about $25,000. Sterling Capital Management LLC acquired a new stake in shares of TC Energy in the first quarter valued at approximately $26,000. McIlrath & Eck LLC acquired a new stake in shares of TC Energy in the fourth quarter valued at approximately $32,000. Trust Co. of Vermont bought a new position in shares of TC Energy during the 2nd quarter worth approximately $33,000. Finally, SWAN Capital LLC acquired a new position in shares of TC Energy during the 3rd quarter worth approximately $40,000. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Performance

NYSE:TRP 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 stock has a 50 day simple moving average of $66.56 and a 200 day simple moving average of $65.34. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64. TC Energy Corporation has a 1-year low of $49.27 and a 1-year high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The firm had revenue of $2.80 billion for 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 period in the prior year, the firm posted $0.82 EPS. Research analysts anticipate that TC Energy Corporation will post 2.78 earnings per share for the current year.

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be paid a $0.8775 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 annualized dividend and a dividend yield of 5.6%. TC Energy’s dividend payout ratio is 102.49%.

Analysts Set New Price Targets

TRP has been the topic of a number of research analyst reports. Barclays restated an “overweight” rating on shares of TC Energy in a research note on Thursday, July 16th. Royal Bank Of Canada upped their price objective on shares of TC Energy from $104.00 to $106.00 and gave the company an “outperform” rating in a report on Friday, July 31st. National Bank Financial raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $89.00.

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.