TC Energy Co. (NYSE:TRP) Shares Acquired by EFG Asset Management Americas Corp.

EFG Asset Management Americas Corp. boosted its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 44.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,657 shares of the pipeline company’s stock after purchasing an additional 7,583 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in TC Energy were worth $934,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TRP. Canoe Financial LP lifted its stake in shares of TC Energy by 781.8% in the 4th quarter. Canoe Financial LP now owns 704,176 shares of the pipeline company’s stock worth $27,526,000 after acquiring an additional 624,316 shares during the period. Intech Investment Management LLC acquired a new stake in TC Energy in the first quarter valued at $1,159,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of TC Energy by 15.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,109,055 shares of the pipeline company’s stock worth $81,599,000 after purchasing an additional 278,886 shares during the period. M&G Plc acquired a new position in shares of TC Energy during the 1st quarter worth $111,587,000. Finally, Cetera Investment Advisers lifted its stake in shares of TC Energy by 74.1% in the first quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock valued at $3,972,000 after purchasing an additional 42,024 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

NYSE:TRP traded down $0.09 during trading hours on Friday, reaching $46.69. 2,526,082 shares of the company traded hands, compared to its average volume of 1,853,158. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The firm’s 50-day moving average is $42.40 and its 200-day moving average is $39.91. The stock has a market cap of $48.44 billion, a P/E ratio of 24.07, a P/E/G ratio of 3.80 and a beta of 0.81. TC Energy Co. has a 1-year low of $32.51 and a 1-year high of $47.24.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.29. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same period last year, the company earned $0.71 EPS. Equities research analysts expect that TC Energy Co. will post 3.06 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.702 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.81 annualized dividend and a yield of 6.01%. TC Energy’s payout ratio is currently 144.85%.

Analysts Set New Price Targets

Separately, Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, TC Energy currently has an average rating of “Hold” and an average price target of $44.67.

TC Energy Company 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.