TC Energy Corporation $TRP Position Increased by Castleark Management LLC

Castleark Management LLC grew its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 23.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,810 shares of the pipeline company’s stock after purchasing an additional 12,350 shares during the period. Castleark Management LLC’s holdings in TC Energy were worth $4,057,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TRP. Bradley Foster & Sargent Inc. CT raised its holdings in shares of TC Energy by 10.3% during the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 442,065 shares of the pipeline company’s stock valued at $27,673,000 after purchasing an additional 41,133 shares in the last quarter. Lombard Odier Asset Management Switzerland SA lifted its stake in shares of TC Energy by 12.5% in the 1st quarter. Lombard Odier Asset Management Switzerland SA now owns 38,830 shares of the pipeline company’s stock valued at $2,426,000 after purchasing an additional 4,300 shares during the last quarter. Compound Planning Inc. boosted its holdings in TC Energy by 4.2% in the first quarter. Compound Planning Inc. now owns 18,434 shares of the pipeline company’s stock worth $1,154,000 after purchasing an additional 745 shares in the last quarter. Bank of Nova Scotia boosted its holdings in TC Energy by 8.3% in the first quarter. Bank of Nova Scotia now owns 8,380,992 shares of the pipeline company’s stock worth $524,682,000 after purchasing an additional 639,127 shares in the last quarter. Finally, Dickmeyer Boyce Financial Management Inc. acquired a new position in TC Energy during the first quarter worth $631,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. TD Securities restated a “hold” rating on shares of TC Energy in a research note on Thursday, July 16th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. Royal Bank Of Canada lifted their target price on shares of TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Morgan Stanley lowered shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 10th. Finally, Weiss Ratings cut shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.50.

TC Energy Stock Down 3.3%

NYSE TRP opened at $68.29 on Tuesday. TC Energy Corporation has a twelve month low of $46.61 and a twelve month high of $71.47. The stock has a market cap of $71.15 billion, a PE ratio of 29.64 and a beta of 0.66. The firm has a 50-day simple moving average of $68.59 and a 200 day simple moving average of $64.09. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same quarter in the prior year, the company posted $0.95 EPS. On average, research analysts forecast that TC Energy Corporation will post 2.72 EPS for the current year.

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a dividend of $0.8775 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a yield of 5.1%. TC Energy’s dividend payout ratio is 107.39%.

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.