Aviva PLC Boosts Stock Holdings in TC Energy Corporation $TRP

Aviva PLC increased its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 7.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 777,182 shares of the pipeline company’s stock after acquiring an additional 52,002 shares during the period. Aviva PLC owned about 0.07% of TC Energy worth $37,935,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in shares of TC Energy by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 915,241 shares of the pipeline company’s stock worth $43,209,000 after purchasing an additional 10,227 shares in the last quarter. Cerity Partners LLC increased its holdings in TC Energy by 113.2% in the 1st quarter. Cerity Partners LLC now owns 33,945 shares of the pipeline company’s stock worth $1,603,000 after buying an additional 18,022 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in TC Energy in the 1st quarter worth about $45,000. Oxbow Advisors LLC raised its position in TC Energy by 9.9% in the 1st quarter. Oxbow Advisors LLC now owns 11,653 shares of the pipeline company’s stock worth $550,000 after buying an additional 1,050 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its stake in TC Energy by 7.8% during the 1st quarter. Bleakley Financial Group LLC now owns 57,484 shares of the pipeline company’s stock valued at $2,714,000 after acquiring an additional 4,183 shares during the period. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Performance

TRP opened at $52.18 on Monday. The firm has a market cap of $54.29 billion, a P/E ratio of 17.81, a PEG ratio of 4.82 and a beta of 0.73. TC Energy Corporation has a 1-year low of $43.51 and a 1-year high of $55.37. The company has a 50 day simple moving average of $52.17 and a two-hundred day simple moving average of $50.32. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.56. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the previous year, the company earned $1.03 EPS. Equities analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a dividend of $0.85 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Wednesday, December 31st. TC Energy’s dividend payout ratio (DPR) is 103.88%.

Analyst Ratings Changes

TRP has been the subject of several research reports. Barclays reissued an “overweight” rating on shares of TC Energy in a report on Tuesday, October 14th. Weiss Ratings lowered shares of TC Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Wall Street Zen downgraded TC Energy from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. TD Securities reiterated a “buy” rating on shares of TC Energy in a research report on Friday, October 17th. Finally, Cibc World Mkts cut TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, TC Energy has a consensus rating of “Moderate Buy” and an average target price of $77.00.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.