TC Energy Corporation $TRP Stake Boosted by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd lifted its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 13.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,539 shares of the pipeline company’s stock after acquiring an additional 8,621 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in TC Energy were worth $3,895,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in TC Energy by 2.0% in the third quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company’s stock valued at $2,545,777,000 after purchasing an additional 914,168 shares in the last quarter. Capital Research Global Investors raised its stake in shares of TC Energy by 2.5% during the 3rd quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock worth $2,282,469,000 after purchasing an additional 1,041,864 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of 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 in the last quarter. TD Asset Management Inc lifted its holdings in shares of TC Energy by 2.9% during the 3rd quarter. TD Asset Management Inc now owns 19,624,247 shares of the pipeline company’s stock valued at $1,067,246,000 after buying an additional 550,066 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of TC Energy by 4.4% in the 3rd quarter. Mackenzie Financial Corp now owns 13,351,862 shares of the pipeline company’s stock valued at $725,816,000 after buying an additional 557,794 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Raymond James Financial upgraded TC Energy to a “hold” rating in a report on Tuesday, February 17th. BMO Capital Markets reissued an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. Weiss Ratings restated a “buy (b-)” rating on shares of TC Energy in a research note on Monday, December 29th. Scotiabank restated an “outperform” rating on shares of TC Energy in a report on Tuesday, February 17th. Finally, TD Securities lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, TC Energy has a consensus rating of “Hold” and an average target price of $72.50.

TC Energy Trading Down 1.2%

TC Energy stock opened at $63.43 on Monday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63. The business’s 50-day simple moving average is $60.53 and its 200-day simple moving average is $55.85. The firm has a market capitalization of $66.04 billion, a PE ratio of 27.29 and a beta of 0.72. TC Energy Corporation has a 52 week low of $43.59 and a 52 week high of $65.57.

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

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a $0.8775 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, March 31st. TC Energy’s dividend payout ratio (DPR) is currently 106.90%.

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.