Savant Capital LLC Invests $271,000 in TC Energy Corporation $TRP

Savant Capital LLC bought a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the 2nd quarter, HoldingsChannel reports. The firm bought 5,551 shares of the pipeline company’s stock, valued at approximately $271,000.

Other hedge funds have also bought and sold shares of the company. Hilltop National Bank acquired a new position in shares of TC Energy in the 2nd quarter valued at $32,000. Harbor Asset Planning Inc. acquired a new position in TC Energy in the 2nd quarter worth approximately $43,000. Truvestments Capital LLC acquired a new position in TC Energy in the 1st quarter worth approximately $45,000. SouthState Corp raised its position in TC Energy by 2,757.1% during the 2nd quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock worth $49,000 after buying an additional 965 shares during the last quarter. Finally, SVB Wealth LLC acquired a new stake in TC Energy during the 1st quarter valued at approximately $72,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada increased their price objective on shares of TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. TD Securities reaffirmed a “buy” rating on shares of TC Energy in a report on Friday, October 17th. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. US Capital Advisors cut TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Finally, BMO Capital Markets raised TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $77.00.

TC Energy Trading Down 0.6%

Shares of TC Energy stock opened at $54.17 on Wednesday. TC Energy Corporation has a fifty-two week low of $43.51 and a fifty-two week high of $55.37. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The company has a market cap of $56.37 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 4.82 and a beta of 0.73. The firm has a 50-day simple moving average of $52.51 and a two-hundred day simple moving average of $50.52.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.56. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $2.63 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same quarter in the prior year, the firm posted $1.03 EPS. As a group, equities analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.85 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date is Wednesday, December 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 6.3%. TC Energy’s payout ratio is 103.88%.

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.