Ensign Peak Advisors Inc Raises Stock Position in TC Energy Co. (NYSE:TRP)

Ensign Peak Advisors Inc increased its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,607 shares of the pipeline company’s stock after acquiring an additional 2,200 shares during the quarter. Ensign Peak Advisors Inc’s holdings in TC Energy were worth $2,656,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new position in shares of TC Energy during the second quarter worth about $25,000. Creekmur Asset Management LLC purchased a new position in TC Energy during the 4th quarter worth approximately $27,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of TC Energy by 138.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 429 shares during the period. OLD Point Trust & Financial Services N A purchased a new position in shares of TC Energy during the fourth quarter worth approximately $31,000. Finally, Mather Group LLC. acquired a new position in shares of TC Energy in the 2nd quarter valued at $33,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TRP shares. StockNews.com initiated coverage on TC Energy in a report on Friday. They issued a “hold” rating on the stock. Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $43.50.

TC Energy Stock Performance

Shares of TRP opened at $46.76 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. TC Energy Co. has a 52-week low of $32.51 and a 52-week high of $48.14. The company has a 50-day simple moving average of $44.63 and a 200-day simple moving average of $40.57. The company has a market capitalization of $46.76 billion, a PE ratio of 24.10, a P/E/G ratio of 3.82 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 EPS for the quarter, topping the consensus estimate of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the company earned $0.71 EPS. Equities research analysts predict that TC Energy Co. will post 3.08 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a dividend of $0.702 per share. This represents a $2.81 annualized dividend and a dividend yield of 6.01%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is presently 146.39%.

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.