Union Bancaire Privee UBP SA Invests $3.76 Million in TC Energy Corporation $TRP

Union Bancaire Privee UBP SA purchased a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 60,068 shares of the pipeline company’s stock, valued at approximately $3,760,000.

Other large investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of 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 valued at $28,945,000 after purchasing an additional 234,594 shares during the period. Harvest Portfolios Group Inc. grew its stake in shares of TC Energy by 13.6% during the third quarter. Harvest Portfolios Group Inc. now owns 294,618 shares of the pipeline company’s stock worth $16,019,000 after purchasing an additional 35,349 shares during the period. Capital Research Global Investors increased its holdings in TC Energy by 2.5% in the third quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock valued at $2,282,469,000 after purchasing an additional 1,041,864 shares during the last quarter. Generali Asset Management SPA SGR increased its holdings in TC Energy by 261.0% in the fourth quarter. Generali Asset Management SPA SGR now owns 74,906 shares of the pipeline company’s stock valued at $4,121,000 after purchasing an additional 54,154 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in TC Energy by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock valued at $2,632,200,000 after buying an additional 980,221 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings cut TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 4th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research note on Monday, May 4th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. TD Securities reissued a “hold” rating on shares of TC Energy in a research note on Monday, May 4th. Finally, The Goldman Sachs Group upgraded shares of TC Energy from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $53.00 to $62.00 in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Stock Down 0.8%

Shares of TC Energy stock opened at $69.66 on Friday. TC Energy Corporation has a 1 year low of $46.29 and a 1 year high of $71.47. The business has a 50-day moving average of $66.86 and a two-hundred day moving average of $62.06. The company has a market capitalization of $69.66 billion, a P/E ratio of 30.23 and a beta of 0.66. 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 released its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the firm posted $0.95 earnings per share. As a group, equities analysts predict that TC Energy Corporation will post 2.75 EPS for the current year.

TC Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.0%. The ex-dividend date is Tuesday, June 30th. TC Energy’s dividend payout ratio (DPR) is 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.