BROOKFIELD Corp ON Has $108.65 Million Stock Position in TC Energy Corporation $TRP

BROOKFIELD Corp ON raised its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 8.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,735,576 shares of the pipeline company’s stock after buying an additional 141,556 shares during the quarter. TC Energy accounts for about 0.1% of BROOKFIELD Corp ON’s investment portfolio, making the stock its 23rd largest position. BROOKFIELD Corp ON’s holdings in TC Energy were worth $108,647,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in TRP. Massachusetts Financial Services Co. MA increased its position in TC Energy by 80.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 526,181 shares of the pipeline company’s stock worth $28,945,000 after acquiring an additional 234,594 shares during the period. Generali Asset Management SPA SGR raised its stake in TC Energy by 261.0% during the 4th 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. Vanguard Group Inc. boosted its holdings in TC Energy by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock valued at $2,632,200,000 after purchasing an additional 980,221 shares during the period. Miller Howard Investments Inc. NY boosted its holdings in TC Energy by 14.0% in the 1st quarter. Miller Howard Investments Inc. NY now owns 1,294,518 shares of the pipeline company’s stock valued at $81,037,000 after purchasing an additional 158,686 shares during the period. Finally, TD Waterhouse Canada Inc. grew its position in TC Energy by 1.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 4,806,132 shares of the pipeline company’s stock worth $263,516,000 after purchasing an additional 58,624 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TRP has been the topic of several research reports. Barclays restated an “overweight” rating on shares of TC Energy in a report on Thursday, July 16th. National Bank Financial upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research report on Tuesday, July 21st. The Goldman Sachs Group raised TC Energy from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $53.00 to $62.00 in a research report on Monday, April 20th. Finally, Royal Bank Of Canada boosted their price target on TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.50.

TC Energy Stock Down 0.0%

TRP opened at $70.58 on Monday. The firm has a market cap of $73.54 billion, a price-to-earnings ratio of 30.63 and a beta of 0.66. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65. The firm’s 50-day simple moving average is $68.61 and its 200-day simple moving average is $63.99. TC Energy Corporation has a twelve month low of $46.61 and a twelve month high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same period last year, the firm posted $0.95 EPS. Equities research analysts anticipate that TC Energy Corporation will post 2.72 EPS for the current fiscal year.

TC Energy Announces Dividend

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 issued 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 5.0%. TC Energy’s dividend payout ratio (DPR) is presently 107.39%.

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.