Parr Mcknight Wealth Management Group LLC Takes $2.51 Million Position in TC Energy Co. (NYSE:TRP)

Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 53,951 shares of the pipeline company's stock, valued at approximately $2,510,000.

Several other institutional investors also recently bought and sold shares of TRP. BROOKFIELD Corp ON boosted its stake in TC Energy by 31.6% during the 4th quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company's stock worth $87,950,000 after purchasing an additional 454,011 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in TC Energy by 7.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company's stock valued at $10,463,000 after acquiring an additional 16,334 shares during the last quarter. AXA S.A. boosted its stake in TC Energy by 28.4% during the fourth quarter. AXA S.A. now owns 142,095 shares of the pipeline company's stock worth $6,612,000 after buying an additional 31,441 shares during the period. Cinctive Capital Management LP increased its holdings in TC Energy by 12.3% in the 4th quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company's stock valued at $9,042,000 after purchasing an additional 21,243 shares during the last quarter. Finally, Guardian Partners Inc. acquired a new stake in shares of TC Energy in the fourth quarter valued at $8,614,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wall Street Zen lowered shares of TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Royal Bank of Canada boosted their target price on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Finally, Citigroup started coverage on TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Stock Performance

Shares of TC Energy stock opened at $49.52 on Friday. The stock has a market capitalization of $51.49 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 4.34 and a beta of 0.78. The firm's fifty day simple moving average is $48.64 and its 200-day simple moving average is $47.56. 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 12 month low of $37.07 and a 12 month high of $51.34.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data 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 company had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $2.57 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period in the prior year, the company earned $1.02 earnings per share. As a group, equities analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current 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 given a dividend of $0.6142 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 annualized dividend and a dividend yield of 4.96%. TC Energy's payout ratio is currently 77.89%.

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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