IFP Advisors Inc Has $177,000 Stock Position in TC Energy Corporation $TRP

Key Points

• IFP Advisors Inc significantly reduced its stake in TC Energy Corporation by 91.9% during the second quarter, now holding shares worth $177,000.
• Multiple institutional investors, including Park Avenue Securities LLC and Gold Investment Management Ltd., have increased their holdings in TC Energy, indicating ongoing interest in the stock.
• TC Energy recently raised its quarterly dividend to $0.6148, representing an annual yield of 4.8%, with the dividend payout ratio currently at 84.30%.

IFP Advisors Inc lowered its holdings in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 91.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,630 shares of the pipeline company's stock after selling 41,435 shares during the period. IFP Advisors Inc's holdings in TC Energy were worth $177,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Park Avenue Securities LLC increased its holdings in TC Energy by 2.3% in the 2nd quarter. Park Avenue Securities LLC now owns 9,947 shares of the pipeline company's stock worth $485,000 after purchasing an additional 225 shares in the last quarter. Gold Investment Management Ltd. increased its holdings in TC Energy by 2.5% in the 2nd quarter. Gold Investment Management Ltd. now owns 9,656 shares of the pipeline company's stock worth $471,000 after purchasing an additional 232 shares in the last quarter. Baader Bank Aktiengesellschaft increased its holdings in TC Energy by 4.4% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 6,325 shares of the pipeline company's stock worth $289,000 after purchasing an additional 264 shares in the last quarter. Compound Planning Inc. increased its holdings in TC Energy by 2.1% in the 1st quarter. Compound Planning Inc. now owns 13,806 shares of the pipeline company's stock worth $652,000 after purchasing an additional 288 shares in the last quarter. Finally, Prudential PLC increased its holdings in TC Energy by 5.2% in the 1st quarter. Prudential PLC now owns 6,536 shares of the pipeline company's stock worth $309,000 after purchasing an additional 326 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TRP. Wall Street Zen cut TC Energy from a "hold" rating to a "sell" rating in a report on Friday, October 3rd. Barclays reaffirmed an "overweight" rating on shares of TC Energy in a report on Tuesday. Cibc World Mkts lowered TC Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 9th. Weiss Ratings reiterated a "buy (b-)" rating on shares of TC Energy in a research report on Wednesday, October 8th. Finally, US Capital Advisors lowered TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Up 0.0%

TRP stock opened at $51.47 on Friday. The stock's 50 day simple moving average is $52.27 and its 200 day simple moving average is $49.92. TC Energy Corporation has a fifty-two week low of $43.51 and a fifty-two week high of $55.37. 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 market cap of $53.54 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 4.84 and a beta of 0.75.

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 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the business earned $0.79 EPS. On average, research analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 4.8%. This is a boost from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, September 29th. TC Energy's dividend payout ratio (DPR) is currently 84.30%.

TC Energy Company 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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