Hennessy Advisors Inc. raised its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 602,430 shares of the pipeline company's stock after buying an additional 25,730 shares during the quarter. Hennessy Advisors Inc. owned about 0.06% of TC Energy worth $28,441,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in TRP. Jackson Square Capital LLC increased its holdings in TC Energy by 18.7% in the 1st quarter. Jackson Square Capital LLC now owns 19,753 shares of the pipeline company's stock valued at $933,000 after purchasing an additional 3,118 shares during the last quarter. Elevation Point Wealth Partners LLC grew its stake in shares of TC Energy by 3.0% in the first quarter. Elevation Point Wealth Partners LLC now owns 21,271 shares of the pipeline company's stock valued at $1,004,000 after buying an additional 614 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of TC Energy in the 1st quarter valued at $713,000. apricus wealth LLC lifted its stake in TC Energy by 6.8% during the 1st quarter. apricus wealth LLC now owns 54,960 shares of the pipeline company's stock worth $2,595,000 after acquiring an additional 3,510 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in TC Energy by 77.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company's stock worth $110,000 after acquiring an additional 1,005 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on TRP. Royal Bank of Canada upped their price objective on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Finally, Wall Street Zen lowered TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, TC Energy currently has a consensus rating of "Moderate Buy" and an average target price of $62.00.
Read Our Latest Analysis on TC Energy
TC Energy Price Performance
NYSE:TRP traded down $0.95 during trading hours on Tuesday, reaching $48.26. The company had a trading volume of 2,348,612 shares, compared to its average volume of 2,309,530. The firm has a market capitalization of $50.17 billion, a PE ratio of 14.90, a PEG ratio of 4.34 and a beta of 0.78. The stock has a 50-day moving average of $49.53 and a two-hundred day moving average of $47.69. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. TC Energy Co. has a one year low of $33.76 and a one year high of $51.99.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter last year, the business posted $1.02 earnings per share. Analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current year.
TC Energy Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.6142 per share. The ex-dividend date is Monday, June 30th. This represents a $2.46 annualized dividend and a dividend yield of 5.09%. TC Energy's dividend payout ratio is currently 81.52%.
About TC Energy
(
Free Report)
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.
Featured Stories
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.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
