PensionDanmark Pensionsforsikringsaktieselskab Purchases 8,496 Shares of TC Energy Corporation $TRP

PensionDanmark Pensionsforsikringsaktieselskab increased its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 9.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,988 shares of the pipeline company’s stock after acquiring an additional 8,496 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in TC Energy were worth $6,818,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in shares of TC Energy by 80.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 526,181 shares of the pipeline company’s stock worth $28,945,000 after purchasing an additional 234,594 shares during the last quarter. Generali Asset Management SPA SGR grew its holdings in TC Energy by 261.0% in the 4th quarter. Generali Asset Management SPA SGR now owns 74,906 shares of the pipeline company’s stock valued at $4,121,000 after buying an additional 54,154 shares during the last quarter. Vanguard Group Inc. grew its holdings in TC Energy by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock valued at $2,632,200,000 after buying an additional 980,221 shares during the last quarter. Miller Howard Investments Inc. NY increased its position in TC Energy by 14.0% in the 1st quarter. Miller Howard Investments Inc. NY now owns 1,294,518 shares of the pipeline company’s stock worth $81,037,000 after buying an additional 158,686 shares during the period. Finally, BROOKFIELD Corp ON lifted its holdings in shares of TC Energy by 8.9% during the first quarter. BROOKFIELD Corp ON now owns 1,735,576 shares of the pipeline company’s stock worth $108,647,000 after buying an additional 141,556 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

NYSE:TRP opened at $63.28 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.54 and a current ratio of 0.61. The company has a 50-day moving average of $67.97 and a 200-day moving average of $64.76. TC Energy Corporation has a 52 week low of $49.27 and a 52 week high of $71.47. The company has a market capitalization of $65.94 billion, a price-to-earnings ratio of 26.26 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The business had revenue of $2.80 billion for 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 previous year, the firm posted $0.82 earnings per share. As a group, equities research analysts anticipate that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays restated an “overweight” rating on shares of TC Energy in a research note on Thursday, July 16th. BMO Capital Markets reissued an “outperform” rating and issued a $99.00 price target on shares of TC Energy in a 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 report on Monday, May 4th. TD Securities restated a “hold” rating on shares of TC Energy in a report on Thursday, July 16th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, TC Energy presently has an average rating of “Moderate Buy” and an average target price 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.