Arista Wealth Management LLC Invests $302,000 in TC Energy Corporation $TRP

Key Points

• Arista Wealth Management LLC has invested approximately $302,000 in TC Energy Corporation by acquiring 6,200 shares during the second quarter.
• TC Energy Corporation recently announced an increase in its quarterly dividend to $0.6148 per share, representing a 4.8% dividend yield.
• The company's stock has shown fluctuating performance with a 12-month range between $43.51 and $55.37, currently opening at $51.47.

Arista Wealth Management LLC bought a new position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,200 shares of the pipeline company's stock, valued at approximately $302,000.

Other large investors also recently modified their holdings of the company. Hilltop National Bank acquired a new stake in shares of TC Energy during the 2nd quarter worth $32,000. Harbor Asset Planning Inc. acquired a new stake in shares of TC Energy during the 2nd quarter worth $43,000. TruNorth Capital Management LLC acquired a new stake in shares of TC Energy during the 1st quarter worth $45,000. Truvestments Capital LLC acquired a new stake in shares of TC Energy during the 1st quarter worth $45,000. Finally, Golden State Wealth Management LLC grew its holdings in shares of TC Energy by 222.2% during the 1st 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 in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Price Performance

TC Energy stock opened at $51.47 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $53.54 billion, a PE ratio of 17.57, a P/E/G ratio of 4.84 and a beta of 0.75. TC Energy Corporation has a 12 month low of $43.51 and a 12 month high of $55.37. The stock has a 50-day moving average price of $52.27 and a two-hundred day moving average price of $49.92.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same period last year, the company earned $0.79 earnings per share. Analysts expect 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 given a dividend of $0.6148 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.8%. This is a positive change 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 84.30%.

Analyst Upgrades and Downgrades

TRP has been the topic of several analyst reports. Wall Street Zen lowered TC Energy from a "hold" rating to a "sell" rating in a report on Friday, October 3rd. Barclays reissued an "overweight" rating on shares of TC Energy in a research note on Tuesday. TD Securities reissued a "buy" rating on shares of TC Energy in a report on Friday. US Capital Advisors cut shares of TC Energy from a "moderate buy" rating to a "hold" rating in a report on Thursday, August 21st. Finally, Cibc World Mkts cut shares of TC Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $62.00.

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.

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