TC Energy Corporation $TRP Stock Position Boosted by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. boosted its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 37.9% in the 2nd quarter, Holdings Channel reports. The firm owned 4,473,642 shares of the pipeline company’s stock after purchasing an additional 1,230,120 shares during the period. TC Energy accounts for about 7.9% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 2nd biggest holding. Mufg Securities Canada LTD.’s holdings in TC Energy were worth $295,781,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Groupe la Francaise increased its stake in TC Energy by 2.1% in the first quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock valued at $459,000 after purchasing an additional 154 shares during the period. Wealthstar Advisors LLC grew its holdings in shares of TC Energy by 1.5% during the first quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company’s stock worth $718,000 after buying an additional 165 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its position in TC Energy by 5.7% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company’s stock valued at $245,000 after acquiring an additional 210 shares during the period. Arax Advisory Partners raised its stake in TC Energy by 7.9% during the 4th quarter. Arax Advisory Partners now owns 3,029 shares of the pipeline company’s stock valued at $167,000 after acquiring an additional 221 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in TC Energy by 5.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,223 shares of the pipeline company’s stock worth $232,000 after acquiring an additional 232 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TRP shares. Royal Bank Of Canada lifted their target price on TC Energy from $104.00 to $106.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. TD Securities reiterated a “hold” rating on shares of TC Energy in a research report on Thursday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of TC Energy in a research report on Friday, July 31st. Scotiabank restated an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $99.00 price target on shares of TC Energy in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.00.

TC Energy Trading Up 1.1%

NYSE:TRP opened at $62.57 on Tuesday. TC Energy Corporation has a 1 year low of $49.27 and a 1 year high of $71.47. 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 stock has a fifty day moving average price of $66.21 and a two-hundred day moving average price of $65.39. The stock has a market capitalization of $65.19 billion, a price-to-earnings ratio of 25.96 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results 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 net margin of 22.91% and a return on equity of 11.10%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the prior year, the company posted $0.82 EPS. As a group, sell-side analysts anticipate that TC Energy Corporation will post 2.78 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be given a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Tuesday, September 29th. TC Energy’s dividend payout ratio (DPR) is presently 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.