Parr Mcknight Wealth Management Group LLC Buys New Shares in TC Energy Co. (NYSE:TRP)

Parr Mcknight Wealth Management Group LLC purchased a new stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 53,951 shares of the pipeline company's stock, valued at approximately $2,510,000.

Several other large investors have also recently bought and sold shares of TRP. SBI Securities Co. Ltd. bought a new position in TC Energy during the 4th quarter worth $31,000. Synergy Investment Management LLC bought a new position in shares of TC Energy in the fourth quarter worth $36,000. Millstone Evans Group LLC acquired a new position in TC Energy in the fourth quarter valued at about $41,000. First Command Advisory Services Inc. bought a new stake in TC Energy during the fourth quarter worth about $46,000. Finally, Rogco LP lifted its position in TC Energy by 100.0% during the fourth quarter. Rogco LP now owns 1,000 shares of the pipeline company's stock worth $47,000 after purchasing an additional 500 shares during the period. 83.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TRP. Citigroup started coverage on shares of TC Energy in a research report on Friday, April 4th. They issued a "neutral" rating for the company. US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. Wall Street Zen downgraded TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Finally, Royal Bank of Canada raised their price objective on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Trading Down 0.2%

NYSE TRP traded down $0.10 during trading hours on Wednesday, reaching $50.00. The company's stock had a trading volume of 498,485 shares, compared to its average volume of 2,266,837. The firm has a fifty day simple moving average of $48.76 and a 200-day simple moving average of $47.59. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. TC Energy Co. has a 52 week low of $33.76 and a 52 week high of $51.34. The stock has a market cap of $51.98 billion, a P/E ratio of 15.43, a P/E/G ratio of 4.34 and a beta of 0.78.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.04). The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter last year, the company posted $1.02 earnings per share. Equities analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.6142 per share. This represents a $2.46 annualized dividend and a yield of 4.91%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy's payout ratio is presently 77.89%.

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.