TC Energy Corporation $TRP Shares Bought by Bell Bank

Bell Bank increased its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,881 shares of the pipeline company’s stock after buying an additional 8,826 shares during the period. Bell Bank’s holdings in TC Energy were worth $11,202,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Sterling Capital Management LLC purchased a new position in shares of TC Energy in the 1st quarter worth about $26,000. Trust Co. of Vermont purchased a new position in TC Energy in the second quarter worth about $33,000. Halbert Hargrove Global Advisors LLC bought a new stake in TC Energy during the third quarter valued at approximately $35,000. Aberdeen Wealth Management LLC bought a new position in TC Energy in the 2nd quarter worth $51,000. Finally, Ascentis Independent Advisors bought a new position in shares of TC Energy in the first quarter worth about $49,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TRP shares. Scotiabank restated an “outperform” rating on shares of TC Energy in a research report on Tuesday, July 21st. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Raymond James Financial restated a “market perform” rating on shares of TC Energy in a research report on Wednesday, September 16th. Weiss Ratings restated a “buy (b)” rating on shares of TC Energy in a research report on Friday, July 31st. Finally, Jefferies Financial Group raised shares of TC Energy from a “hold” rating to a “buy” rating in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $92.00.

TC Energy Price Performance

Shares of TRP stock opened at $61.77 on Wednesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54. The company’s 50-day simple moving average is $61.32 and its two-hundred day simple moving average is $64.73. The company has a market capitalization of $61.77 billion, a P/E ratio of 22.82 and a beta of 0.70. TC Energy Corporation has a one year low of $49.27 and a one year high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%. During the same quarter last year, the firm posted $0.82 earnings per share. As a group, equities analysts anticipate that TC Energy Corporation will post 2.77 EPS for the current year.

TC Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be issued a C$0.88 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.7%. TC Energy’s dividend payout ratio (DPR) is currently 104.98%.

TC Energy Company Profile

TC Energy Corporation (NYSE: TRP) is a North American energy infrastructure company that develops and operates natural gas pipelines, storage facilities, power-generation assets and related energy infrastructure. Its natural gas pipeline network connects major supply basins with utilities, power producers, industrial customers and local distribution companies.

The company’s operations are primarily located in Canada and the United States, with additional natural gas pipeline interests in Mexico.