Arden Trust Co has increased its shares in TC Energy Co. by 9.2% in the first quarter of this year, as reported in their recent Form 13F filing with the Securities & Exchange Commission. Upon the acquisition of an additional 3,063 shares during that period, Arden Trust Co’s holdings in TC Energy were worth $1,412,000 at the time of their most recent filing. However, TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on April 28th and is continuing to be closely monitored for their impact on market trends.
TC Energy Corporation operates as an energy infrastructure company across North America through five different segments including Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company manages a network of approximately 93,700 kilometres of natural gas pipelines which provides transportation from supply basins to local distribution companies for businesses such as power generation plants, industrial facilities and LNG export terminals.
Despite being hit hard by the pandemic over the past year, TC Energy held its own with revenue for Q1 coming in at a solid $2.91 billion compared to analysts’ estimates of $2.73 billion. It’s also important to note that earnings per share remained stable at $0.89 for this segment.
Looking ahead to the future of energy infrastructure and considering factors such as renewable energy sources and environmental concerns arising from pipeline projects, it will be interesting to observe how industries such as TC Energy navigate through these changing times while keeping pace with transforming markets and technologies today- for tomorrow’s world.
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Large Investors Increase Stakes in TC Energy Corporation: A Look at First Quarter Investments
TC Energy Corporation, an energy infrastructure company based in North America, has seen changes in the stakes held by its large investors. Massmutual Trust Co. FSB ADV and Cardinal Capital Management Inc. both grew their positions in TC Energy by 30.1% and 15.5%, respectively, during the first quarter of this year. Meanwhile, Verdence Capital Advisors LLC grew its position by 6% during the third quarter of last year while Keudell Morrison Wealth Management increased its stake by 8.7% during Q4 last year. In contrast, Bank of Nova Scotia Trust Co. only grew its position by 0.3% in Q4 last year.
As per the numbers reported, Massmutual Trust now owns shares worth $1,889,000 after purchasing an additional 11,222 shares; Verdence Capital Advisors owns a stake worth $479,000 with an additional purchase of 668 shares; Cardinal Capital Management’s stake is valued at $92,361,000 after purchasing 319,007 more shares; Bank of Nova Scotia now owns $772,892 worth of TC Energy stock after buying an extra 2,566 shares; Keudell Morrison Wealth Management purchased another 652 shares to own a position worth $324k.
Institutional investors together own approximately over two-thirds (71%) of TC Energy stock worth around $40 billion as per market cap figures reported earlier this week.
Share prices for TRP opened at $39.26 on Friday and currently have a P/E ratio of about31 while carrying a PEG ratio around3—suggesting a high degree of price-to-earnings uncertainty or measurement error within the expected returns model due to changing growth assumptions over time or other factors such as market fluctuations or regulatory environment changes.
TC Energy 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 uses a network of 93,700 km natural gas pipelines to transport natural gas to various businesses.
TC Energy recently announced that investors of record as of Friday, June 30th will receive a quarterly dividend of $0.688 per share payable on Monday, July 31st. With a DPR ratio at an all-time high, it equates to an annualized payout amounting to$2.75 per share and carries a dividend yield for investors around 7%. The ex-dividend date for TC Energy is scheduled for Thursday, June 29th.
While Bloomberg reports indicate the stock presently has an average rating of “hold” from the major analysts covering it in the market with a consensus target price of $63.06, StockNews.com says that they maintain a “hold” rating point on the company. However, TC Energy was upgraded from ‘C’ to ‘B-‘ by TheStreet back in April this year indicating better growth prospects ahead- only some analysts agree with this perception while others are more cautious about its future prospects and therefore maintain existing ratings on it.
