Gateway Investment Advisers LLC Has $507,000 Stake in TC Energy Corporation $TRP

Key Points

• Gateway Investment Advisers LLC has reduced its stake in TC Energy Corporation by 57.7%, now holding 10,395 shares valued at approximately $507,000.
• TC Energy has announced an increase in its quarterly dividend to $0.6148 per share, representing a yield of 4.7%.
• Wall Street analysts have a mixed outlook on TC Energy, with a consensus rating of "Moderate Buy" and an average price target of $62.00.

Gateway Investment Advisers LLC lessened its stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 57.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,395 shares of the pipeline company's stock after selling 14,181 shares during the quarter. Gateway Investment Advisers LLC's holdings in TC Energy were worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in shares of TC Energy by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 915,241 shares of the pipeline company's stock worth $43,209,000 after purchasing an additional 10,227 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings 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 worth $110,000 after purchasing an additional 1,005 shares in the last quarter. Wealthstar Advisors LLC purchased a new stake in TC Energy in the 1st quarter worth approximately $432,000. Golden State Wealth Management LLC increased its position in TC Energy by 222.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock valued at $51,000 after buying an additional 742 shares in the last quarter. Finally, FORA Capital LLC purchased a new position in shares of TC Energy in the 1st quarter worth $776,000. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Stock Down 0.2%

Shares of NYSE TRP traded down $0.09 during midday trading on Friday, hitting $52.57. 1,243,385 shares of the stock traded hands, compared to its average volume of 1,694,525. The business has a 50 day moving average price of $50.20 and a two-hundred day moving average price of $49.12. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. TC Energy Corporation has a one year low of $40.76 and a one year high of $53.08. The company has a market cap of $54.69 billion, a PE ratio of 17.94, a P/E/G ratio of 5.05 and a beta of 0.77.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its 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. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same period in the prior year, the company earned $0.79 EPS. On average, equities analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced 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 represents a $2.46 annualized dividend and a yield of 4.7%. 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 is currently 85.32%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TRP. US Capital Advisors lowered TC Energy from a "moderate buy" rating to a "hold" rating in a report on Thursday, August 21st. Barclays reiterated an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. Finally, Wall Street Zen upgraded shares of TC Energy from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $62.00.

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.