Mackenzie Financial Corp Boosts Stock Holdings in TC Energy Co. (NYSE:TRP)

Mackenzie Financial Corp grew its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 0.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 15,466,315 shares of the pipeline company’s stock after purchasing an additional 10,486 shares during the period. TC Energy comprises about 0.9% of Mackenzie Financial Corp’s portfolio, making the stock its 26th largest holding. Mackenzie Financial Corp’s holdings in TC Energy were worth $586,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. EdgeRock Capital LLC purchased a new position in TC Energy in the second quarter worth $25,000. Creekmur Asset Management LLC purchased a new position in TC Energy in the 4th quarter worth $27,000. Whittier Trust Co. of Nevada Inc. lifted its position in TC Energy by 138.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 429 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new stake in TC Energy during the 4th quarter valued at $31,000. Finally, Mather Group LLC. purchased a new stake in TC Energy in the second quarter worth $33,000. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Up 0.1 %

Shares of NYSE TRP opened at $47.90 on Friday. TC Energy Co. has a 52-week low of $32.51 and a 52-week high of $48.14. The firm has a market capitalization of $49.70 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 3.82 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The stock has a 50 day moving average price of $44.48 and a 200 day moving average price of $40.52.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the previous year, the firm earned $0.71 EPS. Sell-side analysts expect that TC Energy Co. will post 3.08 earnings per share for the current year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a dividend of $0.702 per share. This represents a $2.81 annualized dividend and a dividend yield of 5.86%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is currently 144.85%.

Analysts Set New Price Targets

TRP has been the topic of several recent research reports. Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com initiated coverage on TC Energy in a research report on Friday. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $43.50.

TC Energy 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.