1,865 Shares in TC Energy Co. (NYSE:TRP) Purchased by Waldron Private Wealth LLC

Waldron Private Wealth LLC bought a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 1,865 shares of the pipeline company’s stock, valued at approximately $89,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in TC Energy by 41.7% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,214,265 shares of the pipeline company’s stock worth $57,738,000 after buying an additional 357,605 shares during the period. Eastern Bank acquired a new position in shares of TC Energy in the third quarter worth $166,000. Signaturefd LLC increased its position in shares of TC Energy by 15.6% during the third quarter. Signaturefd LLC now owns 18,929 shares of the pipeline company’s stock worth $900,000 after acquiring an additional 2,556 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of TC Energy by 26.0% in the third quarter. Sequoia Financial Advisors LLC now owns 9,651 shares of the pipeline company’s stock valued at $459,000 after acquiring an additional 1,993 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Down 1.0 %

TRP stock opened at $46.95 on Thursday. The company’s 50 day moving average is $46.08 and its two-hundred day moving average is $41.40. TC Energy Co. has a twelve month low of $30.61 and a twelve month high of $48.25. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The stock has a market cap of $46.95 billion, a P/E ratio of 24.20, a PEG ratio of 3.98 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same period in the previous year, the company earned $0.71 earnings per share. Research analysts expect that TC Energy Co. will post 3.02 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a $0.702 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 5.98%. TC Energy’s dividend payout ratio (DPR) is presently 146.39%.

Analysts Set New Price Targets

A number of research firms have issued reports on TRP. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday. Finally, Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $48.50.

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.