Cerity Partners LLC Increases Position in TC Energy Corporation (NYSE:TRP)

Cerity Partners LLC lifted its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 113.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,945 shares of the pipeline company’s stock after purchasing an additional 18,022 shares during the period. Cerity Partners LLC’s holdings in TC Energy were worth $1,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BROOKFIELD Corp ON lifted its position in TC Energy by 31.6% during the fourth quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company’s stock valued at $87,950,000 after purchasing an additional 454,011 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in TC Energy by 7.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company’s stock valued at $10,463,000 after purchasing an additional 16,334 shares during the last quarter. Bank of New York Mellon Corp lifted its position in TC Energy by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 915,241 shares of the pipeline company’s stock valued at $43,209,000 after purchasing an additional 10,227 shares during the last quarter. Farther Finance Advisors LLC lifted its position in TC Energy by 77.7% during the first quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company’s stock valued at $110,000 after purchasing an additional 1,005 shares during the last quarter. Finally, Wealthstar Advisors LLC bought a new position in TC Energy during the first quarter valued at $432,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Down 0.8%

TRP stock opened at $47.40 on Tuesday. The company has a market capitalization of $49.29 billion, a PE ratio of 16.70, a P/E/G ratio of 4.60 and a beta of 0.76. TC Energy Corporation has a 12 month low of $40.95 and a 12 month high of $51.99. The firm’s 50-day moving average is $48.93 and its 200 day moving average is $47.85. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.70 and a quick ratio of 0.63.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $2.57 billion. TC Energy had a return on equity of 11.41% and a net margin of 29.17%. During the same period in the prior year, the business earned $1.02 EPS. On average, research analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.6142 dividend. This represents a $2.46 annualized dividend and a yield of 5.18%. The ex-dividend date is Monday, June 30th. TC Energy’s dividend payout ratio is presently 82.51%.

Wall Street Analyst Weigh In

Several research firms have commented on TRP. Citigroup began coverage on shares of TC Energy in a research report on Friday, April 4th. They set a “neutral” rating for the company. Cibc World Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, May 2nd. Finally, CIBC upgraded shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.00.

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.