Capital Innovations LLC Acquires New Position in TC Energy Corporation $TRP

Capital Innovations LLC acquired a new stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 177,391 shares of the pipeline company’s stock, valued at approximately $9,758,000. TC Energy comprises about 2.8% of Capital Innovations LLC’s investment portfolio, making the stock its 16th biggest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. increased its holdings in TC Energy by 38.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 88,140 shares of the pipeline company’s stock worth $4,796,000 after buying an additional 24,617 shares during the period. Citigroup Inc. increased its holdings in TC Energy by 19.2% in the 3rd quarter. Citigroup Inc. now owns 378,086 shares of the pipeline company’s stock worth $20,562,000 after buying an additional 61,013 shares during the period. Vanguard Group Inc. increased its holdings in TC Energy by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company’s stock worth $2,545,777,000 after buying an additional 914,168 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in TC Energy by 80.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 526,181 shares of the pipeline company’s stock worth $28,945,000 after buying an additional 234,594 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in TC Energy by 15.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 299,250 shares of the pipeline company’s stock worth $15,999,000 after buying an additional 39,320 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays reiterated an “overweight” rating on shares of TC Energy in a report on Monday, May 4th. Wells Fargo & Company reiterated an “overweight” rating on shares of TC Energy in a report on Monday, February 16th. National Bank Financial upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Raymond James Financial upgraded shares of TC Energy to a “hold” rating in a report on Tuesday, February 17th. Finally, Royal Bank Of Canada raised their price objective on shares of TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.50.

TC Energy Price Performance

Shares of NYSE TRP opened at $68.06 on Wednesday. The stock has a market capitalization of $68.06 billion, a price-to-earnings ratio of 29.54 and a beta of 0.66. TC Energy Corporation has a 12 month low of $46.29 and a 12 month high of $71.47. The firm’s 50 day simple moving average is $64.74 and its 200-day simple moving average is $60.18. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same quarter last year, the company earned $0.95 EPS. Analysts expect that TC Energy Corporation will post 2.75 EPS for the current year.

TC Energy Dividend Announcement

The company 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 of this dividend is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.2%. TC Energy’s dividend payout ratio (DPR) is presently 109.57%.

About TC Energy

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.