Wealth Enhancement Advisory Services LLC Acquires 4,033 Shares of TC Energy Co. (NYSE:TRP)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 23.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,066 shares of the pipeline company’s stock after acquiring an additional 4,033 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in TC Energy were worth $980,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in TC Energy during the fourth quarter valued at approximately $31,000. Synergy Investment Management LLC acquired a new position in shares of TC Energy in the 4th quarter worth approximately $36,000. Millstone Evans Group LLC bought a new position in shares of TC Energy during the 4th quarter worth approximately $41,000. First Command Advisory Services Inc. acquired a new stake in TC Energy in the 4th quarter valued at $46,000. Finally, Rogco LP grew its position in TC Energy by 100.0% in the fourth quarter. Rogco LP now owns 1,000 shares of the pipeline company’s stock valued at $47,000 after acquiring an additional 500 shares during the period. Institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TRP shares. Royal Bank of Canada lifted their price objective on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Citigroup started coverage on shares of TC Energy in a research report on Friday, April 4th. They set a “neutral” rating for the company. Wall Street Zen lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Cibc World Mkts raised TC Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, May 2nd. Finally, Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Price Performance

Shares of TRP stock opened at $50.70 on Monday. TC Energy Co. has a 1 year low of $37.07 and a 1 year high of $51.99. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The firm’s 50 day moving average is $49.16 and its 200-day moving average is $47.66. The firm has a market capitalization of $52.70 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 4.34 and a beta of 0.78.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.04). The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the prior year, the company posted $1.02 EPS. Sell-side analysts forecast that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.6142 per share. This represents a $2.46 annualized dividend and a dividend yield of 4.85%. The ex-dividend date is Monday, June 30th. TC Energy’s dividend payout ratio (DPR) is presently 81.52%.

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.