TC Energy Corporation $TRP Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia raised its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 8.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,380,992 shares of the pipeline company’s stock after buying an additional 639,127 shares during the quarter. TC Energy makes up approximately 0.9% of Bank of Nova Scotia’s holdings, making the stock its 20th largest holding. Bank of Nova Scotia’s holdings in TC Energy were worth $524,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC purchased a new position in shares of TC Energy during the 1st quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in TC Energy in the fourth quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new stake in TC Energy in the fourth quarter valued at approximately $28,000. McIlrath & Eck LLC acquired a new position in TC Energy during the fourth quarter worth approximately $32,000. Finally, SWAN Capital LLC acquired a new position in TC Energy during the third quarter worth approximately $40,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada increased their price target on shares of TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. TD Securities restated a “hold” rating on shares of TC Energy in a report on Thursday, July 16th. The Goldman Sachs Group raised TC Energy from a “sell” rating to a “neutral” rating and increased their target price for the stock from $53.00 to $62.00 in a research report on Monday, April 20th. National Bank Financial upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Stock Up 0.0%

Shares of NYSE:TRP opened at $69.86 on Friday. The company has a market capitalization of $72.79 billion, a price-to-earnings ratio of 30.32 and a beta of 0.66. The company has a 50 day moving average of $68.56 and a two-hundred day moving average of $63.88. TC Energy Corporation has a 52-week low of $46.61 and a 52-week high of $71.47. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $2.04 billion for 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 period in the previous year, the company posted $0.95 earnings per share. As a group, analysts forecast that TC Energy Corporation will post 2.72 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s dividend payout ratio is presently 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.