HF Advisory Group LLC Acquires 8,236 Shares of 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 increased its position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 14.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,020 shares of the pipeline company's stock after purchasing an additional 8,236 shares during the period. TC Energy accounts for about 1.3% of HF Advisory Group LLC's investment portfolio, making the stock its 21st largest holding. HF Advisory Group LLC's holdings in TC Energy were worth $3,221,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in shares of TC Energy by 2,565.1% in the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company's stock valued at $769,815,000 after buying an additional 15,694,336 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of TC Energy by 80.3% in the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company's stock valued at $802,164,000 after buying an additional 7,562,887 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of TC Energy by 34.2% in the first quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company's stock valued at $935,627,000 after buying an additional 5,053,228 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of TC Energy by 175.1% in the first quarter. Deutsche Bank AG now owns 5,758,203 shares of the pipeline company's stock valued at $271,845,000 after buying an additional 3,664,862 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of TC Energy by 31.3% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,418,858 shares of the pipeline company's stock valued at $444,885,000 after buying an additional 2,242,918 shares in the last quarter. Institutional investors own 83.13% of the company's stock.

Analyst Upgrades and Downgrades

TRP has been the topic of several research reports. Barclays reaffirmed an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. Wall Street Zen raised TC Energy from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Finally, US Capital Advisors cut TC Energy from a "moderate buy" rating to a "hold" rating in a report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. 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 Stock Down 0.2%

Shares of TC Energy stock traded down $0.09 on Friday, hitting $52.57. 1,243,385 shares of the company traded hands, compared to its average volume of 1,694,525. The company has a 50-day moving average price of $50.20 and a 200 day moving average price of $49.12. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. TC Energy Corporation has a 12-month low of $40.76 and a 12-month high of $53.08. The company has a market cap of $54.69 billion, a PE ratio of 17.94, a PEG ratio of 5.05 and a beta of 0.77.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly 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. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same period in the previous year, the company posted $0.79 EPS. Sell-side analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be issued a $0.6148 dividend. This is a boost from TC Energy's previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Monday, September 29th. TC Energy's dividend payout ratio is currently 85.32%.

About TC Energy

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.