Wealth Alliance Boosts Stock Position in TC Energy Co. (NYSE:TRP)

Wealth Alliance raised its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,531 shares of the pipeline company’s stock after acquiring an additional 304 shares during the period. Wealth Alliance’s holdings in TC Energy were worth $881,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new stake in TC Energy during the 4th quarter valued at approximately $26,000. Money Concepts Capital Corp raised its stake in TC Energy by 149.1% during the 4th quarter. Money Concepts Capital Corp now owns 949 shares of the pipeline company’s stock valued at $38,000 after acquiring an additional 568 shares during the last quarter. Chilton Capital Management LLC purchased a new stake in TC Energy during the 1st quarter valued at approximately $41,000. Hexagon Capital Partners LLC increased its position in TC Energy by 158.3% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,085 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 665 shares during the period. Finally, ICA Group Wealth Management LLC acquired a new position in TC Energy during the 4th quarter worth approximately $47,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TRP shares. The Goldman Sachs Group boosted their target price on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Barclays upped their price target on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Jefferies Financial Group assumed coverage on TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating on the stock. TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Finally, Stifel Nicolaus assumed coverage on TC Energy in a research note on Thursday, January 18th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.83.

TC Energy Stock Down 2.3 %

NYSE:TRP opened at $35.18 on Wednesday. The company has a market capitalization of $35.18 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 3.01 and a beta of 0.75. TC Energy Co. has a one year low of $32.51 and a one year high of $42.49. The stock has a 50-day simple moving average of $39.20 and a 200 day simple moving average of $37.98. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.93 billion. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. Sell-side analysts predict that TC Energy Co. will post 2.99 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.714 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 8.12%. This is an increase from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date is Wednesday, March 27th. TC Energy’s dividend payout ratio (DPR) is 139.41%.

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.