PensionDanmark Pensionsforsikringsaktieselskab Has $6.82 Million Stock Position in TC Energy Corporation $TRP

PensionDanmark Pensionsforsikringsaktieselskab raised its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 9.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 102,988 shares of the pipeline company’s stock after purchasing an additional 8,496 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in TC Energy were worth $6,818,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings 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 worth $28,945,000 after acquiring an additional 234,594 shares in the last quarter. Generali Asset Management SPA SGR increased its holdings 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 in the last quarter. Vanguard Group Inc. raised its position 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 last quarter. Miller Howard Investments Inc. NY raised its position 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 last quarter. Finally, BROOKFIELD Corp ON boosted its stake in TC Energy by 8.9% in the first quarter. BROOKFIELD Corp ON now owns 1,735,576 shares of the pipeline company’s stock worth $108,647,000 after purchasing an additional 141,556 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Down 1.0%

Shares of TRP opened at $63.28 on Friday. The business’s fifty day moving average price is $67.97 and its two-hundred day moving average price is $64.76. The firm has a market capitalization of $65.94 billion, a price-to-earnings ratio of 26.26 and a beta of 0.66. TC Energy Corporation has a 52 week low of $49.27 and a 52 week high of $71.47. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.54 and a current ratio of 0.61.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results 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. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. On average, analysts predict that TC Energy Corporation will post 2.75 earnings per share for the current year.

TC Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Tuesday, September 29th. TC Energy’s dividend payout ratio (DPR) is presently 102.49%.

Analyst Ratings Changes

A number of analysts have recently weighed in on TRP shares. BMO Capital Markets restated an “outperform” rating and issued a $99.00 target price on shares of TC Energy in a research note on Friday, July 31st. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research report on Tuesday, July 21st. The Goldman Sachs Group raised shares of TC Energy from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $53.00 to $62.00 in a report on Monday, April 20th. National Bank Financial upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. One research 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.