HF Advisory Group LLC Has $3.22 Million Holdings in TC Energy Corporation $TRP

Key Points

• HF Advisory Group LLC increased its holdings in TC Energy Corporation by 14.3%, acquiring an additional 8,236 shares, bringing its total to 66,020 shares worth $3,221,000.
• TC Energy announced a quarterly dividend increase to $0.6148 per share, with an annualized yield of 4.7%, reflecting strong performance as it beats EPS estimates.
• Recent analyst ratings have varied, with US Capital Advisors downgrading the stock, while Barclays maintained an "overweight" rating, establishing a consensus target price of $62.00.

HF Advisory Group LLC raised its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 14.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,020 shares of the pipeline company's stock after buying an additional 8,236 shares during the quarter. TC Energy makes up approximately 1.3% of HF Advisory Group LLC's investment portfolio, making the stock its 21st largest position. HF Advisory Group LLC's holdings in TC Energy were worth $3,221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in TC Energy by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 44,397,978 shares of the pipeline company's stock worth $2,096,739,000 after acquiring an additional 710,837 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of TC Energy by 34.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company's stock valued at $935,627,000 after purchasing an additional 5,053,228 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of TC Energy by 6.2% in the first quarter. TD Asset Management Inc now owns 17,455,740 shares of the pipeline company's stock valued at $824,243,000 after buying an additional 1,018,590 shares in the last quarter. Bank of Nova Scotia boosted its position in TC Energy by 80.3% during the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company's stock worth $802,164,000 after purchasing an additional 7,562,887 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in TC Energy by 2,565.1% during the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company's stock worth $769,815,000 after purchasing an additional 15,694,336 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Up 0.7%

Shares of NYSE:TRP traded up $0.38 during midday trading on Monday, hitting $52.92. 1,824,647 shares of the stock were exchanged, compared to its average volume of 1,691,319. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. TC Energy Corporation has a 52-week low of $42.18 and a 52-week high of $53.34. The business's fifty day simple moving average is $50.29 and its two-hundred day simple moving average is $49.21. The company has a market capitalization of $55.05 billion, a PE ratio of 18.06, a P/E/G ratio of 5.04 and a beta of 0.77.

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

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 yield of 4.6%. 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 85.32%.

Analyst Upgrades and Downgrades

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

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.