TC Energy Co. (NYSE:TRP) is Cidel Asset Management Inc.’s 10th Largest Position

Cidel Asset Management Inc. increased its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 8.0% in the second quarter, HoldingsChannel reports. The firm owned 1,304,629 shares of the pipeline company’s stock after purchasing an additional 97,044 shares during the quarter. TC Energy accounts for approximately 2.6% of Cidel Asset Management Inc.’s holdings, making the stock its 10th biggest holding. Cidel Asset Management Inc.’s holdings in TC Energy were worth $64,626,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Mufg Securities Canada LTD. increased its holdings in shares of TC Energy by 1,163.3% in the 1st quarter. Mufg Securities Canada LTD. now owns 6,320,564 shares of the pipeline company’s stock worth $289,530,000 after purchasing an additional 5,820,248 shares in the last quarter. UBS Group AG increased its holdings in shares of TC Energy by 225.2% in the 1st quarter. UBS Group AG now owns 1,039,676 shares of the pipeline company’s stock worth $47,564,000 after purchasing an additional 719,979 shares in the last quarter. Eudaimonia Partners LLC increased its holdings in shares of TC Energy by 65.3% in the 1st quarter. Eudaimonia Partners LLC now owns 1,284 shares of the pipeline company’s stock worth $59,000 after purchasing an additional 507 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of TC Energy by 2.1% in the 2nd quarter. Verdence Capital Advisors LLC now owns 11,139 shares of the pipeline company’s stock worth $552,000 after purchasing an additional 234 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of TC Energy by 133.5% in the 1st quarter. Morgan Stanley now owns 2,244,925 shares of the pipeline company’s stock worth $102,706,000 after purchasing an additional 1,283,349 shares in the last quarter. 69.40% of the stock is owned by institutional investors.

Shares of TC Energy stock traded up $0.59 during trading hours on Wednesday, hitting $49.60. The company’s stock had a trading volume of 51,364 shares, compared to its average volume of 1,889,133. The business has a 50 day moving average price of $48.30 and a two-hundred day moving average price of $48.72. TC Energy Co. has a 12-month low of $38.80 and a 12-month high of $53.65. The company has a market cap of $48.57 billion, a PE ratio of 30.63, a PEG ratio of 2.37 and a beta of 0.79. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.55 and a current ratio of 0.61.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, July 29th. The pipeline company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.11. TC Energy had a return on equity of 14.84% and a net margin of 16.25%. The business had revenue of $2.59 billion for the quarter. As a group, research analysts anticipate that TC Energy Co. will post 3.38 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Thursday, September 30th will be given a $0.6917 dividend. The ex-dividend date is Wednesday, September 29th. This represents a $2.77 dividend on an annualized basis and a dividend yield of 5.58%. TC Energy’s dividend payout ratio is currently 91.72%.

Several analysts recently commented on the company. CIBC lifted their price objective on TC Energy from C$70.00 to C$74.00 and gave the stock an “outperform” rating in a report on Friday, June 18th. Morgan Stanley lowered TC Energy from an “overweight” rating to an “equal weight” rating and set a $76.00 price objective for the company. in a report on Tuesday, July 20th. The Goldman Sachs Group lowered TC Energy from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $75.00 to $63.00 in a report on Monday. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a C$68.00 price objective on shares of TC Energy in a report on Monday, August 23rd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, TC Energy has an average rating of “Buy” and an average price target of $69.25.

TC Energy Company Profile

TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Storage, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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