Savant Capital LLC Takes Position in TC Energy Corporation $TRP

Savant Capital LLC purchased a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,551 shares of the pipeline company’s stock, valued at approximately $271,000.

Several other hedge funds also recently added to or reduced their stakes in TRP. Vanguard Group Inc. lifted its stake in TC Energy by 1.6% in the first quarter. Vanguard Group Inc. now owns 44,397,978 shares of the pipeline company’s stock worth $2,096,739,000 after purchasing an additional 710,837 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of TC Energy by 34.2% during the first quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock valued at $935,627,000 after buying an additional 5,053,228 shares during the last quarter. TD Asset Management Inc increased its stake in TC Energy by 9.3% in the second quarter. TD Asset Management Inc now owns 19,074,181 shares of the pipeline company’s stock worth $929,316,000 after purchasing an additional 1,618,441 shares during the period. Bank of Nova Scotia boosted its stake in shares of TC Energy by 80.3% during the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock valued at $802,164,000 after purchasing an additional 7,562,887 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of TC Energy by 2,565.1% in the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock worth $769,815,000 after purchasing an additional 15,694,336 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TRP. Wall Street Zen lowered shares of TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. TD Securities reaffirmed a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. Cibc Captl Mkts upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Scotiabank restated an “outperform” rating on shares of TC Energy in a report on Monday, October 20th. Finally, Royal Bank Of Canada lifted their target price on TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $77.00.

TC Energy Stock Performance

Shares of NYSE:TRP opened at $54.17 on Wednesday. The firm has a 50 day moving average of $52.51 and a 200 day moving average of $50.52. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $56.37 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 4.82 and a beta of 0.73. TC Energy Corporation has a 52 week low of $43.51 and a 52 week high of $55.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $2.63 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same period last year, the business posted $1.03 EPS. On average, sell-side analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be issued a $0.85 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Wednesday, December 31st. TC Energy’s dividend payout ratio is presently 103.88%.

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.