Royal Fund Management LLC Boosts Stake in TC Energy Co. (NYSE:TRP)

Royal Fund Management LLC lifted its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 87.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,948 shares of the pipeline company’s stock after buying an additional 16,296 shares during the period. Royal Fund Management LLC’s holdings in TC Energy were worth $1,663,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TRP. SL Advisors LLC boosted its position in TC Energy by 2.1% in the third quarter. SL Advisors LLC now owns 30,175 shares of the pipeline company’s stock worth $1,435,000 after purchasing an additional 611 shares during the last quarter. Atomi Financial Group Inc. raised its stake in shares of TC Energy by 63.7% during the 3rd quarter. Atomi Financial Group Inc. now owns 11,716 shares of the pipeline company’s stock worth $557,000 after purchasing an additional 4,561 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of TC Energy in the 2nd quarter worth about $742,000. Souders Financial Advisors grew its position in TC Energy by 3.3% during the second quarter. Souders Financial Advisors now owns 85,421 shares of the pipeline company’s stock valued at $3,237,000 after buying an additional 2,721 shares during the period. Finally, Cetera Investment Advisers increased its holdings in TC Energy by 5.2% during the second quarter. Cetera Investment Advisers now owns 103,894 shares of the pipeline company’s stock worth $3,938,000 after buying an additional 5,165 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TRP has been the subject of a number of research reports. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. Finally, StockNews.com assumed coverage on TC Energy in a research report on Saturday. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $43.50.

TC Energy Stock Performance

TC Energy stock traded down $0.16 during mid-day trading on Wednesday, reaching $44.53. The company’s stock had a trading volume of 76,964 shares, compared to its average volume of 2,944,065. The firm’s fifty day moving average price is $45.28 and its two-hundred day moving average price is $40.87. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. TC Energy Co. has a 12-month low of $33.47 and a 12-month high of $48.42. The company has a market capitalization of $46.21 billion, a P/E ratio of 23.03, a PEG ratio of 3.66 and a beta of 0.81.

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

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a $0.702 dividend. This represents a $2.81 dividend on an annualized basis and a dividend yield of 6.31%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is 146.91%.

About TC Energy

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.