AGF Management Ltd. Acquires 263,200 Shares of TC Energy Corporation $TRP

AGF Management Ltd. lifted its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 24.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,326,456 shares of the pipeline company’s stock after acquiring an additional 263,200 shares during the quarter. AGF Management Ltd. owned approximately 0.13% of TC Energy worth $64,718,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRP. Bank of New York Mellon Corp lifted its position in shares of TC Energy by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 915,241 shares of the pipeline company’s stock worth $43,209,000 after purchasing an additional 10,227 shares during the period. FORA Capital LLC purchased a new position in shares of TC Energy during the first quarter valued at about $776,000. Fractal Investments LLC raised its stake in TC Energy by 34.4% in the second quarter. Fractal Investments LLC now owns 649,000 shares of the pipeline company’s stock worth $31,665,000 after buying an additional 166,000 shares in the last quarter. TD Asset Management Inc lifted its holdings in TC Energy by 6.2% in the first quarter. TD Asset Management Inc now owns 17,455,740 shares of the pipeline company’s stock worth $824,243,000 after buying an additional 1,018,590 shares during the period. Finally, Cerity Partners LLC boosted its position in TC Energy by 113.2% during the 1st quarter. Cerity Partners LLC now owns 33,945 shares of the pipeline company’s stock valued at $1,603,000 after acquiring an additional 18,022 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 3.4%

NYSE:TRP opened at $52.18 on Friday. The stock has a market cap of $54.29 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 4.82 and a beta of 0.73. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. The company’s 50 day moving average price is $52.17 and its 200-day moving average price is $50.30. TC Energy Corporation has a 52 week low of $43.51 and a 52 week high of $55.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.56. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the prior year, the firm posted $1.03 EPS. On average, equities research analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 6.5%. The ex-dividend date is Wednesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio is 84.30%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TRP shares. Cibc World Mkts lowered TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. US Capital Advisors cut TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Wall Street Zen downgraded TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Royal Bank Of Canada boosted their target price on shares of TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a report on Friday. Finally, Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.00.

TC Energy 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.