Souders Financial Advisors Buys 2,721 Shares of TC Energy Co. (NYSE:TRP)

Souders Financial Advisors lifted its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,421 shares of the pipeline company’s stock after purchasing an additional 2,721 shares during the period. Souders Financial Advisors’ holdings in TC Energy were worth $3,237,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in shares of TC Energy in the first quarter worth approximately $1,159,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in TC Energy by 15.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,109,055 shares of the pipeline company’s stock valued at $81,599,000 after buying an additional 278,886 shares during the period. M&G Plc bought a new stake in TC Energy during the first quarter valued at $111,587,000. Cetera Investment Advisers boosted its stake in TC Energy by 74.1% during the first quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock valued at $3,972,000 after buying an additional 42,024 shares during the period. Finally, Maryland State Retirement & Pension System raised its position in TC Energy by 1.8% during the first quarter. Maryland State Retirement & Pension System now owns 1,302,358 shares of the pipeline company’s stock valued at $52,355,000 after purchasing an additional 22,430 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com initiated coverage on TC Energy in a research report on Friday. 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. Finally, Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $43.50.

TC Energy Stock Performance

TC Energy stock opened at $47.56 on Tuesday. The stock’s 50 day simple moving average is $44.86 and its two-hundred day simple moving average is $40.66. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The stock has a market cap of $49.34 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 3.80 and a beta of 0.81. TC Energy Co. has a fifty-two week low of $32.51 and a fifty-two week high of $48.14.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the firm posted $0.71 EPS. As a group, analysts expect that TC Energy Co. will post 3.08 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a $0.702 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.81 annualized dividend and a yield of 5.90%. TC Energy’s dividend payout ratio (DPR) is presently 144.85%.

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.