Oppenheimer Asset Management Inc. Purchases 888 Shares of TC Energy Co. (NYSE:TRP)

Oppenheimer Asset Management Inc. increased its position in TC Energy Co. (NYSE:TRPGet Rating) (TSE:TRP) by 5.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,348 shares of the pipeline company’s stock after acquiring an additional 888 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in TC Energy were worth $847,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TRP. Avantax Advisory Services Inc. raised its holdings in TC Energy by 13.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 5,394 shares of the pipeline company’s stock worth $303,000 after acquiring an additional 620 shares during the period. Vestmark Advisory Solutions Inc. increased its holdings in shares of TC Energy by 6.6% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 6,980 shares of the pipeline company’s stock worth $394,000 after purchasing an additional 430 shares during the period. Signaturefd LLC increased its holdings in shares of TC Energy by 21.8% during the 1st quarter. Signaturefd LLC now owns 11,528 shares of the pipeline company’s stock worth $650,000 after purchasing an additional 2,067 shares during the period. Roberts Glore & Co. Inc. IL bought a new position in shares of TC Energy during the 1st quarter worth about $229,000. Finally, DAVENPORT & Co LLC increased its holdings in shares of TC Energy by 8.7% during the 1st quarter. DAVENPORT & Co LLC now owns 62,850 shares of the pipeline company’s stock worth $3,548,000 after purchasing an additional 5,022 shares during the period. Institutional investors own 70.14% of the company’s stock.

TC Energy Stock Down 1.7 %

Shares of NYSE TRP opened at $47.41 on Tuesday. TC Energy Co. has a 12-month low of $39.11 and a 12-month high of $59.38. The firm’s 50-day simple moving average is $44.21 and its 200 day simple moving average is $49.96. The company has a quick ratio of 0.47, a current ratio of 0.53 and a debt-to-equity ratio of 1.54. The company has a market cap of $47.98 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 3.81 and a beta of 0.80.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, December 30th will be given a dividend of $0.661 per share. The ex-dividend date is Thursday, December 29th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 5.58%. TC Energy’s payout ratio is 103.95%.

Wall Street Analysts Forecast Growth

TRP has been the topic of several recent research reports. Scotiabank decreased their target price on shares of TC Energy from C$76.00 to C$67.00 in a research report on Thursday, October 20th. TD Securities lifted their target price on shares of TC Energy from C$75.00 to C$76.00 in a research report on Thursday, August 11th. BMO Capital Markets decreased their target price on shares of TC Energy from C$76.00 to C$72.00 in a research report on Thursday, August 11th. Royal Bank of Canada decreased their target price on shares of TC Energy from C$78.00 to C$75.00 and set an “outperform” rating on the stock in a research report on Thursday, November 10th. Finally, National Bank Financial lifted their target price on shares of TC Energy from C$56.00 to C$58.00 in a research report on Friday. Three analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TC Energy has a consensus rating of “Hold” and an average target price of $67.00.

TC Energy Company Profile

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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 Storage. The company builds and operates 93,300 km network 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.

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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