AE Wealth Management LLC raised its stake in TC Energy Co. (NYSE:TRP – Free Report) (TSE:TRP) by 20.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,880 shares of the pipeline company’s stock after buying an additional 7,971 shares during the period. AE Wealth Management LLC’s holdings in TC Energy were worth $1,824,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in TRP. Parallel Advisors LLC boosted its position in TC Energy by 104.6% in the fourth quarter. Parallel Advisors LLC now owns 626 shares of the pipeline company’s stock valued at $25,000 after buying an additional 320 shares in the last quarter. CoreCap Advisors LLC acquired a new stake in TC Energy in the fourth quarter valued at approximately $30,000. Money Concepts Capital Corp boosted its position in TC Energy by 149.1% in the fourth quarter. Money Concepts Capital Corp now owns 949 shares of the pipeline company’s stock valued at $38,000 after buying an additional 568 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in TC Energy by 152.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,028 shares of the pipeline company’s stock valued at $40,000 after buying an additional 620 shares in the last quarter. Finally, Accurate Wealth Management LLC acquired a new stake in TC Energy in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 71.21% of the company’s stock.
TC Energy Trading Up 0.7 %
TRP opened at $40.70 on Tuesday. TC Energy Co. has a 1-year low of $36.79 and a 1-year high of $55.50. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 1.76. The company has a market cap of $41.90 billion, a P/E ratio of 32.56, a price-to-earnings-growth ratio of 3.29 and a beta of 0.85. The company has a fifty day moving average price of $40.67 and a two-hundred day moving average price of $40.73.
TC Energy (NYSE:TRP – Free Report) (TSE:TRP) last posted its quarterly earnings results on Friday, April 28th. The pipeline company reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. TC Energy had a net margin of 11.35% and a return on equity of 13.97%. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.73 billion. Analysts predict that TC Energy Co. will post 3.07 EPS for the current fiscal year.
TC Energy Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be given a dividend of $0.688 per share. This represents a $2.75 annualized dividend and a dividend yield of 6.76%. The ex-dividend date of this dividend is Thursday, June 29th. TC Energy’s payout ratio is presently 219.20%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. StockNews.com assumed coverage on shares of TC Energy in a report on Thursday, May 18th. They set a “hold” rating on the stock. TheStreet raised shares of TC Energy from a “c” rating to a “b-” rating in a research note on Friday, April 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.06.
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 93,700 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.
See Also
Want to see what other hedge funds are holding TRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TC Energy Co. (NYSE:TRP – Free Report) (TSE:TRP).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider TC Energy, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and TC Energy wasn’t on the list.
While TC Energy currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
If a company’s CEO, COO, and CFO were all selling shares of their stock, would you want to know?