57,864 Shares in TC Energy Corporation $TRP Purchased by Empowered Funds LLC

Empowered Funds LLC acquired a new stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 57,864 shares of the pipeline company’s stock, valued at approximately $3,836,000.

A number of other large investors also recently bought and sold shares of TRP. Annis Gardner Whiting Capital Advisors LLC purchased a new position in TC Energy during the fourth quarter worth about $25,000. Sterling Capital Management LLC purchased a new stake in shares of TC Energy in the 1st quarter valued at approximately $26,000. McIlrath & Eck LLC purchased a new stake in shares of TC Energy in the 4th quarter valued at approximately $32,000. Trust Co. of Vermont acquired a new position in shares of TC Energy in the 2nd quarter worth approximately $33,000. Finally, SWAN Capital LLC acquired a new position in shares of TC Energy in the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

NYSE:TRP opened at $63.18 on Wednesday. The company has a fifty day simple moving average of $66.09 and a two-hundred day simple moving average of $65.41. The company has a market cap of $65.83 billion, a price-to-earnings ratio of 26.22 and a beta of 0.66. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. TC Energy Corporation has a 52 week low of $49.27 and a 52 week high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The business 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 quarter in the prior year, the company earned $0.82 earnings per share. As a group, equities analysts anticipate that TC Energy Corporation will post 2.78 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The business also recently announced 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. This represents a $3.51 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy’s payout ratio is presently 102.49%.

Analyst Upgrades and Downgrades

TRP has been the subject of a number of research analyst reports. Jefferies Financial Group raised shares of TC Energy from a “hold” rating to a “buy” rating in a research report on Tuesday. TD Securities restated a “hold” rating on shares of TC Energy in a research note on Thursday, July 16th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Morgan Stanley downgraded TC Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 10th. Finally, Royal Bank Of Canada increased their target price on TC Energy from $104.00 to $106.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, TC Energy presently has an average rating of “Moderate Buy” and a consensus price target of $89.00.

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.