NBC Securities Inc. Acquires 2,831 Shares of TC Energy Co. (NYSE:TRP)

NBC Securities Inc. raised its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 94,366.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,834 shares of the pipeline company’s stock after buying an additional 2,831 shares during the quarter. NBC Securities Inc.’s holdings in TC Energy were worth $133,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. New Hampshire Trust boosted its stake in shares of TC Energy by 19.7% in the 1st quarter. New Hampshire Trust now owns 8,518 shares of the pipeline company’s stock valued at $402,000 after purchasing an additional 1,399 shares in the last quarter. Lowe Wealth Advisors LLC acquired a new stake in shares of TC Energy in the 1st quarter valued at $30,000. GAMMA Investing LLC boosted its stake in shares of TC Energy by 4,621.3% in the 1st quarter. GAMMA Investing LLC now owns 6,657 shares of the pipeline company’s stock valued at $314,000 after purchasing an additional 6,516 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of TC Energy by 248.6% in the 1st quarter. Versant Capital Management Inc now owns 2,475 shares of the pipeline company’s stock valued at $117,000 after purchasing an additional 1,765 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of TC Energy by 21.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 56,590 shares of the pipeline company’s stock valued at $2,672,000 after purchasing an additional 9,905 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

TC Energy stock opened at $49.43 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. TC Energy Co. has a 1 year low of $37.07 and a 1 year high of $51.99. The company has a market cap of $51.39 billion, a PE ratio of 15.26, a PEG ratio of 4.34 and a beta of 0.78. The company’s 50-day moving average is $49.17 and its two-hundred day moving average is $47.66.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.04). TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the company posted $1.02 earnings per share. Equities analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.6142 per share. The ex-dividend date is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a yield of 4.97%. TC Energy’s payout ratio is presently 81.52%.

Analysts Set New Price Targets

TRP has been the topic of several recent analyst reports. CIBC upgraded shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a research note on Friday, May 2nd. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada upped their price target on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Cibc World Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 2nd. Finally, Citigroup assumed coverage on shares of TC Energy in a research report on Friday, April 4th. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

About TC Energy

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.