Wealthquest Corp Buys Shares of 5,759 TC Energy Corporation (NYSE:TRP)

Wealthquest Corp bought a new stake in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,759 shares of the pipeline company's stock, valued at approximately $272,000.

Other institutional investors also recently bought and sold shares of the company. Lowe Wealth Advisors LLC bought a new position in TC Energy in the first quarter valued at about $30,000. SBI Securities Co. Ltd. bought a new position in TC Energy in the fourth quarter valued at about $31,000. Synergy Investment Management LLC bought a new position in TC Energy in the fourth quarter valued at about $36,000. Millstone Evans Group LLC bought a new position in TC Energy in the fourth quarter valued at about $41,000. Finally, First Command Advisory Services Inc. bought a new position in TC Energy in the fourth quarter valued at about $46,000. Institutional investors own 83.13% of the company's stock.

TC Energy Stock Performance

Shares of TRP opened at $47.21 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 1.61. TC Energy Corporation has a 52 week low of $37.07 and a 52 week high of $51.99. The business has a 50-day simple moving average of $49.61 and a two-hundred day simple moving average of $47.65. The stock has a market cap of $49.09 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 4.54 and a beta of 0.78.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its 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). TC Energy had a return on equity of 11.41% and a net margin of 29.17%. The business had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $2.57 billion. During the same quarter in the prior year, the business posted $1.02 EPS. On average, analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.6142 per share. This represents a $2.46 annualized dividend and a dividend yield of 5.20%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio is currently 77.89%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TRP. Citigroup began coverage on TC Energy in a report on Friday, April 4th. They issued a "neutral" rating on the stock. CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. Finally, Wall Street Zen cut TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

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.

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