Park Avenue Securities LLC Acquires 225 Shares of TC Energy Corporation $TRP

Park Avenue Securities LLC boosted its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,947 shares of the pipeline company’s stock after buying an additional 225 shares during the quarter. Park Avenue Securities LLC’s holdings in TC Energy were worth $485,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Viking Fund Management LLC increased its position in TC Energy by 31.4% during the second quarter. Viking Fund Management LLC now owns 502,000 shares of the pipeline company’s stock worth $24,493,000 after buying an additional 120,000 shares during the last quarter. Miller Howard Investments Inc. NY increased its position in TC Energy by 93.8% during the second quarter. Miller Howard Investments Inc. NY now owns 1,153,849 shares of the pipeline company’s stock worth $56,296,000 after buying an additional 558,498 shares during the last quarter. Assenagon Asset Management S.A. increased its position in TC Energy by 2.7% during the second quarter. Assenagon Asset Management S.A. now owns 31,187 shares of the pipeline company’s stock worth $1,519,000 after buying an additional 832 shares during the last quarter. HF Advisory Group LLC increased its position in TC Energy by 14.3% during the second quarter. HF Advisory Group LLC now owns 66,020 shares of the pipeline company’s stock worth $3,221,000 after buying an additional 8,236 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in TC Energy by 21.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 24,893 shares of the pipeline company’s stock worth $1,199,000 after buying an additional 4,362 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

TRP has been the topic of a number of recent analyst reports. Barclays reissued an “overweight” rating on shares of TC Energy in a research report on Thursday, August 14th. Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, US Capital Advisors downgraded TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Trading Down 0.0%

Shares of NYSE:TRP opened at $53.44 on Tuesday. The company has a market capitalization of $55.59 billion, a P/E ratio of 18.24, a P/E/G ratio of 5.13 and a beta of 0.77. TC Energy Corporation has a 1 year low of $42.69 and a 1 year high of $54.18. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The business’s 50 day simple moving average is $50.84 and its 200 day simple moving average is $49.45.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same quarter in the prior year, the business posted $0.79 earnings per share. On average, research analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a dividend of $0.6148 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Monday, September 29th. TC Energy’s dividend payout ratio (DPR) is currently 85.32%.

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.