171,008 Shares in TC Energy Corporation $TRP Purchased by Man Group plc

Man Group plc acquired a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the 2nd quarter, HoldingsChannel reports. The firm acquired 171,008 shares of the pipeline company’s stock, valued at approximately $11,336,000.

Several other institutional investors have also recently bought and sold shares of the stock. Roberts Glore & Co. Inc. IL bought a new stake in TC Energy during the 2nd quarter worth about $201,000. Polar Asset Management Partners Inc. bought a new position in TC Energy during the 2nd quarter worth about $344,000. Jupiter Topco LLC acquired a new stake in shares of TC Energy in the second quarter valued at approximately $95,888,000. Hsbc Holdings PLC acquired a new stake in shares of TC Energy in the second quarter valued at about $2,442,000. Finally, EFG International AG acquired a new position in TC Energy during the second quarter worth $2,208,000. Institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TRP. 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. BMO Capital Markets reissued an “outperform” rating and set a $99.00 price target on shares of TC Energy in a report on Friday, July 31st. TD Securities restated a “hold” rating on shares of TC Energy in a research report on Thursday, July 16th. 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of TC Energy 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 issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.00.

TC Energy Stock Performance

TRP stock opened at $61.87 on Friday. The business has a 50 day moving average of $66.33 and a 200-day moving average of $65.34. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. TC Energy Corporation has a 12-month low of $49.27 and a 12-month high of $71.47. The firm has a market cap of $64.46 billion, a PE ratio of 25.67 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $2.76 billion. During the same quarter in the prior year, the company earned $0.82 EPS. As a group, sell-side analysts expect that TC Energy Corporation will post 2.78 earnings per share for the current year.

TC Energy Announces Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 annualized dividend and a yield of 5.7%. TC Energy’s dividend payout ratio is presently 102.49%.

TC Energy 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.