Eagle Global Advisors LLC Reduces Stake in TC Energy Corporation $TRP

Key Points

• Eagle Global Advisors LLC has reduced its stake in TC Energy Corporation by 14.9%, now holding 212,300 shares worth approximately $10.36 million.
• TC Energy's recent quarterly dividend was declared at $0.6148, marking an increase from the previous period, with a dividend yield of 4.6%.
• Analysts have mixed opinions on TC Energy, with two firms rating it as a Strong Buy, while the consensus rating is a Moderate Buy with an average target price of $62.00.

Eagle Global Advisors LLC trimmed its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 14.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 212,300 shares of the pipeline company's stock after selling 37,050 shares during the quarter. Eagle Global Advisors LLC's holdings in TC Energy were worth $10,358,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of TC Energy by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 915,241 shares of the pipeline company's stock valued at $43,209,000 after purchasing an additional 10,227 shares during the period. Farther Finance Advisors LLC raised its position in shares of TC Energy by 77.7% in the first quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company's stock valued at $110,000 after purchasing an additional 1,005 shares during the period. Wealthstar Advisors LLC bought a new stake in shares of TC Energy in the first quarter valued at approximately $432,000. FORA Capital LLC bought a new stake in shares of TC Energy in the first quarter valued at approximately $776,000. Finally, Golden State Wealth Management LLC raised its position in shares of 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 valued at $51,000 after purchasing an additional 742 shares during the period. Institutional investors own 83.13% of the company's stock.

Wall Street Analyst Weigh In

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

TC Energy Price Performance

Shares of TC Energy stock opened at $53.39 on Friday. The stock has a market capitalization of $55.54 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 5.15 and a beta of 0.77. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The company has a fifty day moving average of $50.72 and a 200-day moving average of $49.37. TC Energy Corporation has a 52-week low of $42.18 and a 52-week high of $54.18.

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, topping the consensus estimate of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The firm had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $2.56 billion. During the same period last year, the company posted $0.79 EPS. Equities research analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be paid a $0.6148 dividend. This represents a $2.46 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Monday, September 29th. This is a positive change from TC Energy's previous quarterly dividend of $0.61. TC Energy's dividend payout ratio (DPR) is 85.32%.

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.

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