Janney Montgomery Scott LLC Decreases Stock Holdings in TC Energy Corporation $TRP

Janney Montgomery Scott LLC lessened its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,074 shares of the pipeline company’s stock after selling 1,070 shares during the period. Janney Montgomery Scott LLC’s holdings in TC Energy were worth $3,370,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of TRP. GAMMA Investing LLC lifted its stake in shares of TC Energy by 4,621.3% during the first quarter. GAMMA Investing LLC now owns 6,657 shares of the pipeline company’s stock valued at $314,000 after buying an additional 6,516 shares during the period. Farther Finance Advisors LLC increased its position in shares of TC Energy by 77.7% in the first quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company’s stock worth $110,000 after acquiring an additional 1,005 shares in the last quarter. apricus wealth LLC boosted its stake in shares of TC Energy by 6.8% in the first quarter. apricus wealth LLC now owns 54,960 shares of the pipeline company’s stock valued at $2,595,000 after purchasing an additional 3,510 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of TC Energy in the first quarter valued at $713,000. Finally, Elevation Point Wealth Partners LLC grew its holdings in TC Energy by 3.0% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 21,271 shares of the pipeline company’s stock worth $1,004,000 after acquiring an additional 614 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Down 0.8%

Shares of TRP stock opened at $54.24 on Thursday. TC Energy Corporation has a 1 year low of $43.51 and a 1 year high of $55.37. The firm’s fifty day simple moving average is $51.82 and its 200 day simple moving average is $49.73. The firm has a market capitalization of $56.42 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 5.12 and a beta of 0.75. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its 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. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the firm posted $0.79 earnings per share. As a group, sell-side 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. Shareholders of record on Monday, September 29th will be paid 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 4.5%. The ex-dividend date is Monday, September 29th. TC Energy’s dividend payout ratio is presently 84.30%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of TC Energy in a research note on Wednesday. US Capital Advisors cut shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Finally, Barclays reiterated an “overweight” rating on shares of TC Energy in a report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.