TC Energy Corporation $TRP Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC increased its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 12.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,176 shares of the pipeline company’s stock after buying an additional 8,943 shares during the period. Bleakley Financial Group LLC’s holdings in TC Energy were worth $4,362,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of TC Energy by 2.0% during the third quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company’s stock worth $2,545,777,000 after acquiring an additional 914,168 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in TC Energy by 5.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 20,986,748 shares of the pipeline company’s stock worth $1,025,220,000 after purchasing an additional 1,178,190 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in TC Energy by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,237,084 shares of the pipeline company’s stock worth $611,410,000 after purchasing an additional 512,759 shares during the last quarter. Norges Bank acquired a new position in shares of TC Energy in the 2nd quarter valued at approximately $493,434,000. Finally, CIBC Asset Management Inc boosted its stake in shares of TC Energy by 1.0% during the 2nd quarter. CIBC Asset Management Inc now owns 9,752,065 shares of the pipeline company’s stock valued at $476,617,000 after buying an additional 98,410 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Price Performance

TRP opened at $62.39 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 1.66. The company’s 50-day moving average price is $56.97 and its 200 day moving average price is $54.06. TC Energy Corporation has a fifty-two week low of $43.59 and a fifty-two week high of $63.94. The firm has a market cap of $64.96 billion, a price-to-earnings ratio of 26.85 and a beta of 0.73.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.94 billion. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.During the same period in the prior year, the company earned $1.05 earnings per share. As a group, sell-side analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a $0.8775 dividend. The ex-dividend date is Tuesday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 dividend on an annualized basis and a yield of 5.6%. TC Energy’s dividend payout ratio (DPR) is 106.90%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TRP. TD Securities lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Wells Fargo & Company reissued an “overweight” rating on shares of TC Energy in a research report on Monday, February 16th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. Royal Bank Of Canada lifted their price target on TC Energy from $84.00 to $92.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Finally, BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a research note on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, TC Energy has an average rating of “Hold” and an average price target of $72.50.

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.