TC Energy Corporation $TRP Shares Purchased by Aviso Financial Inc.

Aviso Financial Inc. raised its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 14.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 284,690 shares of the pipeline company’s stock after purchasing an additional 35,609 shares during the period. Aviso Financial Inc.’s holdings in TC Energy were worth $15,481,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Westside Investment Management Inc. boosted its holdings in shares of TC Energy by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after buying an additional 297 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in TC Energy by 237.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock worth $43,000 after acquiring an additional 565 shares in the last quarter. Sagard Holdings Management Inc. purchased a new stake in TC Energy in the second quarter valued at $46,000. SouthState Corp boosted its stake in TC Energy by 2,757.1% in the second quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock valued at $49,000 after acquiring an additional 965 shares in the last quarter. Finally, City Holding Co. purchased a new position in shares of TC Energy during the third quarter worth about $72,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Trading Up 2.1%

Shares of TRP stock opened at $64.38 on Friday. The company has a market capitalization of $67.03 billion, a P/E ratio of 27.70 and a beta of 0.73. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. The business’s 50 day moving average is $57.89 and its two-hundred day moving average is $54.51. TC Energy Corporation has a twelve month low of $43.59 and a twelve month high of $64.92.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the company earned $1.05 earnings per share. Equities analysts forecast that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 annualized dividend and a dividend yield of 5.5%. TC Energy’s payout ratio is presently 106.90%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TRP. Weiss Ratings reissued a “buy (b-)” rating on shares of TC Energy in a report on Monday, December 29th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Royal Bank Of Canada raised their target price on shares of TC Energy from $84.00 to $92.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $72.50.

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.