B. Riley Wealth Advisors Inc. Acquires 3,218 Shares of TC Energy Co. (NYSE:TRP)

B. Riley Wealth Advisors Inc. raised its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 58.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,769 shares of the pipeline company’s stock after purchasing an additional 3,218 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in TC Energy were worth $409,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Captrust Financial Advisors raised its position in shares of TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after acquiring an additional 242 shares during the last quarter. Signaturefd LLC raised its holdings in TC Energy by 1.6% during the 2nd quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock worth $621,000 after purchasing an additional 261 shares during the last quarter. Prospera Financial Services Inc lifted its position in shares of TC Energy by 4.8% in the 3rd quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock worth $274,000 after purchasing an additional 262 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of TC Energy by 8.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock valued at $167,000 after purchasing an additional 264 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after buying an additional 267 shares during the period. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Up 0.5 %

Shares of NYSE:TRP opened at $45.33 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37. The business’s 50 day simple moving average is $47.79 and its two-hundred day simple moving average is $44.39. The firm has a market cap of $47.05 billion, a P/E ratio of 12.56, a PEG ratio of 3.88 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations 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 forecast that TC Energy Co. will post 3 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a dividend yield of 7.25%. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is currently 67.31%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TRP shares. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. StockNews.com started coverage on TC Energy in a research report on Wednesday, December 4th. They set a “hold” rating on the stock. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, TC Energy presently has a consensus rating of “Hold” and a consensus price target of $55.67.

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.