Alberta Investment Management Corp Invests $55.65 Million in TC Energy Corporation $TRP

Alberta Investment Management Corp purchased a new position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,010,638 shares of the pipeline company’s stock, valued at approximately $55,652,000. Alberta Investment Management Corp owned approximately 0.10% of TC Energy at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TRP. Annis Gardner Whiting Capital Advisors LLC purchased a new position in TC Energy during the 4th quarter worth $25,000. Trust Co. of Vermont purchased a new position in TC Energy during the 4th quarter worth $28,000. McIlrath & Eck LLC purchased a new position in TC Energy during the 4th quarter worth $32,000. SWAN Capital LLC purchased a new stake in TC Energy during the 3rd quarter valued at about $40,000. Finally, Smartleaf Asset Management LLC grew its stake in TC Energy by 237.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 565 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Price Performance

NYSE:TRP opened at $69.13 on Tuesday. TC Energy Corporation has a 12 month low of $46.29 and a 12 month high of $71.47. The stock has a 50 day moving average of $65.80 and a two-hundred day moving average of $61.19. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67. The firm has a market cap of $69.13 billion, a P/E ratio of 30.01 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the firm earned $0.95 earnings per share. On average, analysts expect that TC Energy Corporation will post 2.75 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s dividend payout ratio (DPR) is currently 109.57%.

Analysts Set New Price Targets

TRP has been the topic of several research analyst reports. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. The Goldman Sachs Group raised TC Energy from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $53.00 to $62.00 in a report on Monday, April 20th. Raymond James Financial raised TC Energy to a “hold” rating in a report on Tuesday, February 17th. Morgan Stanley cut TC Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 10th. Finally, Weiss Ratings cut 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 given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.50.

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.