17,356,583 Shares in TC Energy Corporation $TRP Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board purchased a new stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 17,356,583 shares of the pipeline company’s stock, valued at approximately $1,148,244,000.

Other hedge funds have also recently bought and sold shares of the company. Sterling Capital Management LLC acquired a new stake in TC Energy during the 1st quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in TC Energy in the 4th quarter valued at $25,000. Trust Co. of Vermont acquired a new position in TC Energy in the 2nd quarter valued at $33,000. McIlrath & Eck LLC bought a new position in TC Energy during the 4th quarter worth $32,000. Finally, SWAN Capital LLC bought a new position in TC Energy during the 3rd quarter worth $40,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Performance

TRP opened at $61.85 on Wednesday. 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 Corporation has a 52-week low of $49.27 and a 52-week high of $71.47. The firm has a market cap of $64.45 billion, a P/E ratio of 25.67 and a beta of 0.66. The business’s fifty day moving average is $66.66 and its 200-day moving average is $65.32.

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 the consensus estimate of $0.61 by $0.07. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.76 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same quarter in the prior year, the business posted $0.82 earnings per share. Sell-side analysts expect that TC Energy Corporation will post 2.78 EPS for the current fiscal year.

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be issued a dividend of $0.8775 per share. 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 payout ratio is 102.49%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TRP. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TC Energy in a research report on Friday, July 31st. National Bank Financial upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Barclays reissued an “overweight” rating on shares of TC Energy in a report on Thursday, July 16th. Finally, Royal Bank Of Canada increased their target price on shares of TC Energy from $104.00 to $106.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

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.