Goelzer Investment Management Inc. Buys New Holdings in TC Energy Corporation $TRP

Key Points

• Goelzer Investment Management Inc. has acquired 20,372 shares of TC Energy Corporation, valued at approximately $994,000, as per its latest SEC filing.
• TC Energy recently reported $0.59 EPS for the last quarter, exceeding analysts' expectations, although its revenue of $1.82 billion fell short of the forecast.
• The company announced a quarterly dividend of $0.6148 per share, representing a yield of 4.7%, an increase from the previous quarterly dividend.

Goelzer Investment Management Inc. bought a new position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,372 shares of the pipeline company's stock, valued at approximately $994,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC bought a new stake in shares of TC Energy during the first quarter valued at approximately $30,000. TruNorth Capital Management LLC bought a new stake in TC Energy in the first quarter worth $45,000. Truvestments Capital LLC bought a new stake in TC Energy in the first quarter worth $45,000. Golden State Wealth Management LLC increased its position in TC Energy by 222.2% in the first quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock worth $51,000 after purchasing an additional 742 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its position in TC Energy by 75.3% in the first quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company's stock worth $55,000 after purchasing an additional 501 shares during the last quarter. Institutional investors own 83.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. US Capital Advisors cut shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Barclays reaffirmed an "overweight" rating on shares of TC Energy in a research note on Thursday, August 14th. Finally, Wall Street Zen raised shares of TC Energy from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, TC Energy currently has an average rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Stock Down 0.2%

TC Energy stock traded down $0.09 during trading hours on Friday, reaching $52.57. The stock had a trading volume of 1,243,385 shares, compared to its average volume of 2,270,039. The company has a market cap of $54.67 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 5.02 and a beta of 0.77. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The business's 50 day moving average price is $50.09 and its 200-day moving average price is $49.06. TC Energy Corporation has a 52 week low of $40.76 and a 52 week high of $53.08.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same period in the previous year, the company posted $0.79 earnings per share. Sell-side analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a dividend of $0.6148 per share. This represents a $2.46 annualized dividend and a dividend yield of 4.7%. This is an increase from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date is Monday, September 29th. TC Energy's dividend payout ratio is currently 83.62%.

TC Energy 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.