TC Energy Corporation $TRP Shares Bought by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 66.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 889,281 shares of the pipeline company’s stock after purchasing an additional 354,025 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.09% of TC Energy worth $41,983,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Baader Bank Aktiengesellschaft raised its holdings in shares of TC Energy by 4.4% during the first quarter. Baader Bank Aktiengesellschaft now owns 6,325 shares of the pipeline company’s stock worth $289,000 after purchasing an additional 264 shares during the period. Compound Planning Inc. increased its holdings in shares of TC Energy by 2.1% in the 1st quarter. Compound Planning Inc. now owns 13,806 shares of the pipeline company’s stock worth $652,000 after acquiring an additional 288 shares during the period. Prudential PLC increased its holdings in shares of TC Energy by 5.2% in the 1st quarter. Prudential PLC now owns 6,536 shares of the pipeline company’s stock worth $309,000 after acquiring an additional 326 shares during the period. Avantax Advisory Services Inc. increased its holdings in shares of TC Energy by 3.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 9,908 shares of the pipeline company’s stock worth $468,000 after acquiring an additional 344 shares during the period. Finally, FSM Wealth Advisors LLC increased its holdings in shares of TC Energy by 9.2% in the 1st quarter. FSM Wealth Advisors LLC now owns 5,152 shares of the pipeline company’s stock worth $243,000 after acquiring an additional 432 shares during the period. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Price Performance

NYSE TRP opened at $52.31 on Monday. The company has a 50 day simple moving average of $49.68 and a 200-day simple moving average of $48.91. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The firm has a market capitalization of $54.39 billion, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 5.01 and a beta of 0.77. TC Energy Corporation has a 52-week low of $40.76 and a 52-week high of $52.49.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the firm earned $0.79 earnings per share. Equities research analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a dividend of $0.6148 per share. This represents a $2.46 dividend on an annualized basis and a yield of 4.7%. This is an increase from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, September 29th. TC Energy’s payout ratio is presently 85.32%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. US Capital Advisors lowered shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 21st. Wall Street Zen upgraded shares of TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Barclays reiterated an “overweight” rating on shares of TC Energy in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.