Arista Wealth Management LLC Invests $302,000 in TC Energy Corporation $TRP

Arista Wealth Management LLC acquired a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,200 shares of the pipeline company’s stock, valued at approximately $302,000.

A number of other hedge funds also recently made changes to their positions in the stock. Oxbow Advisors LLC raised its position in shares of TC Energy by 10.5% during the second quarter. Oxbow Advisors LLC now owns 12,881 shares of the pipeline company’s stock worth $628,000 after acquiring an additional 1,228 shares during the last quarter. Harbor Asset Planning Inc. bought a new position in shares of TC Energy during the second quarter worth about $43,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of TC Energy during the second quarter worth about $547,000. Callahan Advisors LLC bought a new position in shares of TC Energy during the second quarter worth about $205,000. Finally, Sagespring Wealth Partners LLC raised its position in shares of TC Energy by 34.9% during the second quarter. Sagespring Wealth Partners LLC now owns 5,721 shares of the pipeline company’s stock worth $279,000 after acquiring an additional 1,480 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TRP. TD Securities reiterated a “buy” rating on shares of TC Energy in a report on Friday. Wall Street Zen downgraded TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. US Capital Advisors downgraded TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Barclays reiterated an “overweight” rating on shares of TC Energy in a report on Tuesday. Finally, Cibc World Mkts downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Trading Up 0.0%

Shares of TC Energy stock opened at $51.47 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. TC Energy Corporation has a 52 week low of $43.51 and a 52 week high of $55.37. The stock has a 50 day moving average price of $52.27 and a two-hundred day moving average price of $49.92. The stock has a market capitalization of $53.54 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 4.84 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the firm posted $0.79 earnings per share. As a group, equities analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid a $0.6148 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 4.8%. This is a boost from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, September 29th. TC Energy’s payout ratio is 84.30%.

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.