TC Energy Co. (NYSE:TRP) Position Raised by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC raised its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,595 shares of the pipeline company’s stock after purchasing an additional 722 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in TC Energy were worth $781,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Intech Investment Management LLC acquired a new stake in TC Energy during the first quarter valued at approximately $1,159,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of TC Energy by 15.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,109,055 shares of the pipeline company’s stock valued at $81,599,000 after acquiring an additional 278,886 shares during the last quarter. M&G Plc bought a new stake in shares of TC Energy during the 1st quarter worth $111,587,000. Cetera Investment Advisers grew 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 acquiring an additional 42,024 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its position in shares of TC Energy by 1.8% during the first 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 period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Trading Up 2.0 %

NYSE:TRP opened at $47.11 on Tuesday. The stock’s 50-day moving average is $44.18 and its two-hundred day moving average is $40.42. 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 cap of $47.11 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 3.81 and a beta of 0.81. TC Energy Co. has a fifty-two week low of $32.51 and a fifty-two week high of $47.38.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. As a group, equities research analysts forecast that TC Energy Co. will post 3.06 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.702 per share. The ex-dividend date is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a yield of 5.96%. TC Energy’s payout ratio is 146.39%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com began coverage on shares of TC Energy in a report on Thursday, September 19th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $43.50.

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.