TC Energy Corporation $TRP Position Boosted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 21.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,893 shares of the pipeline company’s stock after acquiring an additional 4,362 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in TC Energy were worth $1,199,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TRP. Vanguard Group Inc. grew its stake in shares of TC Energy by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 44,397,978 shares of the pipeline company’s stock valued at $2,096,739,000 after buying an additional 710,837 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of TC Energy by 34.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock valued at $935,627,000 after buying an additional 5,053,228 shares in the last quarter. TD Asset Management Inc grew its stake in shares of TC Energy by 6.2% in the 1st quarter. TD Asset Management Inc now owns 17,455,740 shares of the pipeline company’s stock valued at $824,243,000 after buying an additional 1,018,590 shares in the last quarter. Bank of Nova Scotia grew its stake in shares of TC Energy by 80.3% in the 1st quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock valued at $802,164,000 after buying an additional 7,562,887 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of TC Energy by 2,565.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock valued at $769,815,000 after buying an additional 15,694,336 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TRP shares. US Capital Advisors cut TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Thursday, August 14th. Finally, Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Stock Down 1.0%

Shares of TRP stock opened at $53.87 on Thursday. TC Energy Corporation has a 12 month low of $43.39 and a 12 month high of $54.90. The firm has a market cap of $56.04 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 5.22 and a beta of 0.75. The stock has a 50 day moving average of $51.08 and a 200-day moving average of $49.51. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54.

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

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a dividend of $0.6148 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.6%. This is a boost from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, September 29th. TC Energy’s dividend payout ratio is presently 84.30%.

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.