Kestra Private Wealth Services LLC Purchases Shares of 14,593 TC Energy Corporation (NYSE:TRP)

Kestra Private Wealth Services LLC bought a new position in shares of TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,593 shares of the pipeline company's stock, valued at approximately $689,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BROOKFIELD Corp ON boosted its position in shares of TC Energy by 31.6% in 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 during the period. O Shaughnessy Asset Management LLC boosted its position in shares of TC Energy by 7.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company's stock valued at $10,463,000 after purchasing an additional 16,334 shares during the period. Bank of New York Mellon Corp boosted its position in shares of TC Energy by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 915,241 shares of the pipeline company's stock valued at $43,209,000 after purchasing an additional 10,227 shares during the period. Farther Finance Advisors LLC boosted its position in shares of TC Energy by 77.7% in the 1st quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company's stock valued at $110,000 after purchasing an additional 1,005 shares during the period. Finally, Wealthstar Advisors LLC acquired a new stake in shares of TC Energy in the 1st quarter valued at about $432,000. Institutional investors and hedge funds own 83.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Citigroup initiated coverage on TC Energy in a research report on Friday, April 4th. They issued a "neutral" rating for the company. CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Finally, Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Stock Performance

Shares of NYSE TRP traded down $0.33 during midday trading on Friday, hitting $47.24. 1,062,272 shares of the company's stock were exchanged, compared to its average volume of 2,750,832. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.70 and a quick ratio of 0.63. The stock's 50 day moving average price is $48.79 and its 200-day moving average price is $47.85. The firm has a market cap of $49.13 billion, a P/E ratio of 15.59, a PEG ratio of 4.58 and a beta of 0.76. TC Energy Corporation has a twelve month low of $37.41 and a twelve month 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 firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. TC Energy had a return on equity of 11.41% and a net margin of 29.17%. During the same period in the previous year, the firm earned $1.02 EPS. Equities research analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.6142 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy's dividend payout ratio (DPR) is presently 82.51%.

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.