Energy Income Partners LLC Buys 35,525 Shares of TC Energy Corporation $TRP

Key Points

• Energy Income Partners LLC increased its stake in TC Energy Corporation by 2.4% by acquiring an additional 35,525 shares, bringing its total ownership to approximately $70 million.
• TC Energy recently declared a quarterly dividend of $0.6148 per share, up from the previous $0.61, representing an annual yield of 4.7%.
• In its latest quarterly earnings, TC Energy reported an EPS of $0.59, exceeding analyst estimates, but reported revenue of $1.82 billion, which fell short of expectations.

Energy Income Partners LLC grew its holdings in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,485,886 shares of the pipeline company's stock after purchasing an additional 35,525 shares during the period. TC Energy makes up 1.3% of Energy Income Partners LLC's portfolio, making the stock its 27th biggest holding. Energy Income Partners LLC owned 0.14% of TC Energy worth $70,149,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. BROOKFIELD Corp ON boosted its position in shares of TC Energy by 31.6% during the 4th quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company's stock valued at $87,950,000 after purchasing an additional 454,011 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings 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 worth $43,209,000 after buying an additional 10,227 shares during the period. Farther Finance Advisors LLC boosted its holdings 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 worth $110,000 after buying an additional 1,005 shares during the period. Wealthstar Advisors LLC acquired a new position in shares of TC Energy in the first quarter worth about $432,000. Finally, Golden State Wealth Management LLC boosted its holdings 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 worth $51,000 after buying an additional 742 shares during the period. Institutional investors own 83.13% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. US Capital Advisors cut shares of TC Energy from a "moderate buy" rating to a "hold" rating in a report on Thursday, August 21st. Barclays restated an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Stock Down 1.3%

TRP traded down $0.67 during midday trading on Thursday, hitting $51.39. 1,893,185 shares of the company's stock traded hands, compared to its average volume of 2,285,672. The company has a market cap of $53.45 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 4.98 and a beta of 0.77. The stock's fifty day simple moving average is $49.18 and its 200-day simple moving average is $48.53. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. TC Energy Corporation has a one year low of $40.76 and a one year high of $52.39.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the firm earned $0.79 earnings per share. As a group, equities analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be given a $0.6148 dividend. This is a positive change from TC Energy's previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, September 29th. TC Energy's payout ratio is 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.