TC Energy Corporation $TRP Shares Purchased by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. boosted its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 16.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,424,436 shares of the pipeline company’s stock after purchasing an additional 753,588 shares during the period. TC Energy makes up about 8.3% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 3rd biggest holding. Mufg Securities Canada LTD.’s holdings in TC Energy were worth $298,765,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Mariner LLC increased its holdings in TC Energy by 105.0% in the 4th quarter. Mariner LLC now owns 108,821 shares of the pipeline company’s stock valued at $5,991,000 after purchasing an additional 55,736 shares in the last quarter. Glen Eagle Advisors LLC acquired a new stake in TC Energy in the 4th quarter valued at $44,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in TC Energy in the 4th quarter valued at $341,000. Entropy Technologies LP acquired a new stake in TC Energy in the 4th quarter valued at $829,000. Finally, Arax Advisory Partners increased its holdings in TC Energy by 7.9% in the 4th quarter. Arax Advisory Partners now owns 3,029 shares of the pipeline company’s stock valued at $167,000 after purchasing an additional 221 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Down 0.0%

Shares of TC Energy stock opened at $69.39 on Monday. The business has a 50-day moving average of $65.69 and a 200-day moving average of $61.08. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57. The company has a market capitalization of $69.39 billion, a PE ratio of 30.12 and a beta of 0.66. TC Energy Corporation has a 1-year low of $46.29 and a 1-year high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the firm earned $0.95 earnings per share. As a group, equities analysts forecast that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 annualized dividend and a dividend yield of 5.1%. TC Energy’s dividend payout ratio (DPR) is presently 109.57%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TRP. BMO Capital Markets reissued an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. The Goldman Sachs Group upgraded TC Energy from a “sell” rating to a “neutral” rating and raised their target price for the company from $53.00 to $62.00 in a research note on Monday, April 20th. National Bank Financial upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Royal Bank Of Canada raised their target price on TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, Raymond James Financial upgraded TC Energy to a “hold” rating in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.50.

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.