Keudell Morrison Wealth Management Invests $490,000 in TC Energy Corporation $TRP

Keudell Morrison Wealth Management bought a new stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,903 shares of the pipeline company’s stock, valued at approximately $490,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Trust Co. of Vermont purchased a new stake in TC Energy during the 4th quarter worth $28,000. McIlrath & Eck LLC purchased a new position in TC Energy in the fourth quarter valued at about $32,000. Westside Investment Management Inc. lifted its stake in shares of TC Energy by 100.0% during the third quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 297 shares in the last quarter. SWAN Capital LLC acquired a new position in shares of TC Energy during the third quarter worth about $40,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of TC Energy by 237.4% in the third quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock worth $43,000 after buying an additional 565 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TRP. BMO Capital Markets reiterated an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. Barclays restated an “overweight” rating on shares of TC Energy in a report on Monday, May 4th. Wall Street Zen raised shares of TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Raymond James Financial upgraded shares of TC Energy to a “hold” rating in a research note on Tuesday, February 17th. Finally, TD Securities restated a “hold” rating on shares of TC Energy in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.50.

TC Energy Stock Performance

Shares of TRP opened at $70.82 on Friday. The firm has a market cap of $70.82 billion, a price-to-earnings ratio of 30.74 and a beta of 0.67. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The business’s 50 day moving average is $64.23 and its two-hundred day moving average is $59.42. TC Energy Corporation has a 52-week low of $46.29 and a 52-week high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same quarter in the previous year, the firm earned $0.95 earnings per share. Analysts forecast that TC Energy Corporation will post 2.75 EPS for the current fiscal year.

TC Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 annualized dividend and a dividend yield of 5.0%. TC Energy’s payout ratio is presently 109.57%.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.