Wealthquest Corp Takes Position in TC Energy Corporation (NYSE:TRP)

Key Points

• Wealthquest Corp has acquired a new stake in TC Energy Corporation during the first quarter, purchasing 5,759 shares valued at approximately $272,000.
• TC Energy's recent quarterly earnings showed an EPS of $0.66, missing estimates, with revenue reported at $1.78 billion, below the anticipated $2.57 billion.
• Analysts give TC Energy a consensus rating of "Moderate Buy" with a price target of $62.00, following upgrades from several research firms.

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

Other institutional investors and hedge funds also recently modified their holdings of the company. Lowe Wealth Advisors LLC acquired a new position in shares of TC Energy during the 1st quarter valued at about $30,000. TruNorth Capital Management LLC acquired a new position in shares of TC Energy during the 1st quarter valued at about $45,000. Golden State Wealth Management LLC increased its stake in shares of 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 acquiring an additional 742 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of TC Energy by 75.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company's stock valued at $55,000 after acquiring an additional 501 shares during the last quarter. Finally, HM Payson & Co. acquired a new position in shares of TC Energy during the 1st quarter valued at about $60,000. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Stock Up 1.6%

Shares of NYSE:TRP opened at $47.80 on Friday. 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 $37.41 and a 52-week high of $51.99. The company has a 50 day moving average of $48.58 and a two-hundred day moving average of $47.85. The company has a market capitalization of $49.70 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 4.56 and a beta of 0.76.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data 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 net margin of 29.17% and a return on equity of 11.41%. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the business earned $1.02 EPS. As a group, analysts forecast that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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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