TC Energy Co. (NYSE:TRP) Shares Bought by Prospera Private Wealth LLC

Prospera Private Wealth LLC raised its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.4% during the third quarter, HoldingsChannel reports. The firm owned 17,467 shares of the pipeline company’s stock after purchasing an additional 567 shares during the period. Prospera Private Wealth LLC’s holdings in TC Energy were worth $831,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. EdgeRock Capital LLC purchased a new stake in shares of TC Energy in the second quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of TC Energy by 138.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 429 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of TC Energy during the 3rd quarter worth $28,000. Blue Trust Inc. grew its holdings in shares of TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 267 shares during the period. Finally, Mather Group LLC. acquired a new position in TC Energy in the 2nd quarter valued at about $33,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TRP shares. StockNews.com initiated coverage on shares of TC Energy in a report on Monday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group increased their target price on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Finally, UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $48.50.

TC Energy Trading Down 0.2 %

NYSE TRP opened at $49.83 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The firm has a 50 day moving average of $47.01 and a two-hundred day moving average of $43.01. The stock has a market capitalization of $51.71 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.22.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. As a group, research analysts expect that TC Energy Co. will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.822 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 6.60%. TC Energy’s dividend payout ratio is presently 67.31%.

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.