Choreo LLC Purchases 11,544 Shares of TC Energy Corporation $TRP

Choreo LLC increased its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 182.5% in the second quarter, Holdings Channel reports. The fund owned 17,870 shares of the pipeline company’s stock after purchasing an additional 11,544 shares during the quarter. Choreo LLC’s holdings in TC Energy were worth $1,185,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC bought a new position in TC Energy in the first quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in TC Energy during the 4th quarter valued at $25,000. McIlrath & Eck LLC bought a new stake in TC Energy during the 4th quarter valued at $32,000. SWAN Capital LLC purchased a new position in shares of TC Energy in the 3rd quarter valued at $40,000. Finally, Ascentis Independent Advisors purchased a new position in shares of TC Energy in the 1st quarter valued at $49,000. 83.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TRP has been the subject of several recent research reports. BMO Capital Markets reissued an “outperform” rating and issued a $99.00 price target on shares of TC Energy in a research report on Friday, July 31st. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st. Royal Bank Of Canada boosted their target price on shares of TC Energy from $104.00 to $106.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, National Bank Financial raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.00.

TC Energy Stock Performance

Shares of TRP stock opened at $64.00 on Friday. TC Energy Corporation has a 12-month low of $49.27 and a 12-month high of $71.47. The business’s fifty day simple moving average is $67.53 and its 200-day simple moving average is $65.06. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64. The company has a market cap of $66.68 billion, a PE ratio of 26.56 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data 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 firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter last year, the firm earned $0.82 EPS. Analysts expect that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

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

TC Energy Company 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.