Amundi Buys 113,190 Shares of TC Energy Corporation $TRP

Amundi increased its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,205,084 shares of the pipeline company’s stock after buying an additional 113,190 shares during the quarter. Amundi owned 0.40% of TC Energy worth $201,760,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of TC Energy by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 45,907,306 shares of the pipeline company’s stock worth $2,241,195,000 after acquiring an additional 1,509,328 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of TC Energy by 34.2% during the first quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock valued at $935,627,000 after purchasing an additional 5,053,228 shares in the last quarter. TD Asset Management Inc lifted its position in shares of TC Energy by 9.3% during the second quarter. TD Asset Management Inc now owns 19,074,181 shares of the pipeline company’s stock valued at $929,316,000 after purchasing an additional 1,618,441 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in TC Energy by 2,565.1% during the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock worth $769,815,000 after purchasing an additional 15,694,336 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in TC Energy by 7.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,724,325 shares of the pipeline company’s stock worth $523,240,000 after purchasing an additional 738,012 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TRP has been the topic of several recent analyst reports. US Capital Advisors cut shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TC Energy in a research report on Monday, December 1st. Citigroup reissued a “neutral” rating on shares of TC Energy in a research report on Thursday, November 20th. TD Securities restated a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. Finally, Barclays reiterated an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.00.

TC Energy Price Performance

Shares of NYSE TRP opened at $54.63 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.60. The stock has a fifty day simple moving average of $52.88 and a two-hundred day simple moving average of $50.92. TC Energy Corporation has a 1-year low of $43.51 and a 1-year high of $55.37. The firm has a market cap of $56.86 billion, a price-to-earnings ratio of 23.55 and a beta of 0.70.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, meeting analysts’ consensus estimates of $0.56. TC Energy had a return on equity of 10.61% and a net margin of 23.86%.The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. Analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be paid a $0.85 dividend. The ex-dividend date is Wednesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 annualized dividend and a dividend yield of 6.2%. TC Energy’s dividend payout ratio is 104.74%.

About TC Energy

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.