TC Energy Co. (NYSE:TRP) Stock Position Lifted by Wealth Alliance

Wealth Alliance grew its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 8.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,960 shares of the pipeline company’s stock after buying an additional 2,069 shares during the period. Wealth Alliance’s holdings in TC Energy were worth $984,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Intech Investment Management LLC bought a new position in TC Energy during the 1st quarter worth approximately $1,159,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of TC Energy by 15.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,109,055 shares of the pipeline company’s stock worth $81,599,000 after purchasing an additional 278,886 shares during the last quarter. M&G Plc bought a new stake in shares of TC Energy in the 1st quarter worth approximately $111,587,000. Cetera Investment Advisers lifted its holdings in shares of TC Energy by 74.1% in the 1st quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock worth $3,972,000 after purchasing an additional 42,024 shares during the last quarter. Finally, Maryland State Retirement & Pension System lifted its holdings in shares of TC Energy by 1.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 1,302,358 shares of the pipeline company’s stock worth $52,355,000 after purchasing an additional 22,430 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on TRP shares. StockNews.com started coverage on TC Energy in a report on Thursday. They issued a “hold” rating on the stock. Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $43.50.

TC Energy Stock Down 0.8 %

Shares of TC Energy stock opened at $46.02 on Thursday. The business’s fifty day moving average price is $43.75 and its two-hundred day moving average price is $40.29. 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 company has a market capitalization of $46.02 billion, a P/E ratio of 23.72, a PEG ratio of 3.81 and a beta of 0.81. TC Energy Co. has a 1-year low of $32.51 and a 1-year high of $47.38.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its 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 firm 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 business earned $0.71 EPS. As a group, research analysts forecast that TC Energy Co. will post 3.06 EPS for the current 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 given a dividend of $0.702 per share. This represents a $2.81 annualized dividend and a dividend yield of 6.10%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is presently 146.39%.

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.