Guinness Asset Management LTD Purchases 8,468 Shares of TC Energy Corporation $TRP

Guinness Asset Management LTD lifted its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 7.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 118,790 shares of the pipeline company’s stock after buying an additional 8,468 shares during the quarter. Guinness Asset Management LTD’s holdings in TC Energy were worth $6,636,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of TC Energy by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock worth $2,632,200,000 after purchasing an additional 980,221 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of TC Energy by 2.5% during the third quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock worth $2,282,469,000 after purchasing an additional 1,041,864 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of TC Energy by 2.9% during the third quarter. TD Asset Management Inc now owns 19,624,247 shares of the pipeline company’s stock worth $1,067,246,000 after purchasing an additional 550,066 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of TC Energy by 4.4% during the third quarter. Mackenzie Financial Corp now owns 13,351,862 shares of the pipeline company’s stock worth $725,816,000 after purchasing an additional 557,794 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of TC Energy by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 11,237,084 shares of the pipeline company’s stock worth $611,410,000 after purchasing an additional 512,759 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Price Performance

TC Energy stock opened at $70.82 on Friday. The stock’s 50 day moving average is $64.23 and its 200 day moving average is $59.42. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57. The firm has a market cap of $70.82 billion, a P/E ratio of 30.74 and a beta of 0.67. TC Energy Corporation has a one year low of $46.29 and a one year high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.During the same period in the previous year, the firm earned $0.95 earnings per share. As a group, research analysts expect that TC Energy Corporation will post 2.75 EPS for the current year.

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 annualized dividend and a yield of 5.0%. TC Energy’s payout ratio is 109.57%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TRP. Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a research note on Thursday, February 19th. Royal Bank Of Canada lifted their price objective on TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Weiss Ratings lowered TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of TC Energy in a research note on Monday, February 16th. Finally, Raymond James Financial raised TC Energy to a “hold” rating in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.50.

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.