SL Advisors LLC Purchases 611 Shares of TC Energy Co. (NYSE:TRP)

SL Advisors LLC lifted its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,175 shares of the pipeline company’s stock after purchasing an additional 611 shares during the quarter. TC Energy makes up about 2.6% of SL Advisors LLC’s investment portfolio, making the stock its 12th largest position. SL Advisors LLC’s holdings in TC Energy were worth $1,435,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. EdgeRock Capital LLC acquired a new position in TC Energy in the second quarter worth about $25,000. Creekmur Asset Management LLC acquired a new position in shares of TC Energy in the 4th quarter worth approximately $27,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after buying an additional 429 shares during the period. Mather Group LLC. acquired a new stake in TC Energy in the 2nd quarter valued at $33,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in TC Energy in the second quarter valued at $51,000. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

TC Energy Stock Performance

TRP stock opened at $44.69 on Wednesday. The company has a 50 day moving average price of $45.23 and a 200 day moving average price of $40.84. TC Energy Co. has a fifty-two week low of $33.47 and a fifty-two week high of $48.42. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The stock has a market capitalization of $46.37 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 3.66 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.29. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Analysts forecast that TC Energy Co. will post 3.08 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a dividend of $0.702 per share. This represents a $2.81 annualized dividend and a dividend yield of 6.28%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio is 146.91%.

TC Energy Company 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.