Stephens Inc. AR Acquires 446 Shares of TC Energy Corporation $TRP

Stephens Inc. AR raised its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,096 shares of the pipeline company’s stock after buying an additional 446 shares during the period. Stephens Inc. AR’s holdings in TC Energy were worth $493,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hilltop National Bank bought a new stake in TC Energy in the second quarter valued at approximately $32,000. Harbor Asset Planning Inc. bought a new position in shares of TC Energy during the second quarter worth approximately $43,000. TruNorth Capital Management LLC bought a new position in shares of TC Energy during the first quarter worth approximately $45,000. Truvestments Capital LLC bought a new position in shares of TC Energy during the first quarter worth approximately $45,000. Finally, Golden State Wealth Management LLC increased its stake in shares of TC Energy by 222.2% during the first quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company’s stock worth $51,000 after purchasing an additional 742 shares during the period. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Down 1.2%

Shares of NYSE:TRP opened at $50.38 on Friday. The firm has a market cap of $52.41 billion, a P/E ratio of 17.19, a P/E/G ratio of 4.78 and a beta of 0.75. 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 Corporation has a 12-month low of $43.51 and a 12-month high of $55.37. The business has a fifty day simple moving average of $52.32 and a 200 day simple moving average of $50.11.

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 the consensus estimate of $0.56 by $0.03. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the company earned $0.79 EPS. Analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be given a $0.6148 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.46 annualized dividend and a dividend yield of 4.9%. TC Energy’s dividend payout ratio is 84.30%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TRP. US Capital Advisors lowered TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a report on Friday. TD Securities reaffirmed a “buy” rating on shares of TC Energy in a report on Friday, October 17th. Finally, Cibc World Mkts downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, TC Energy has a consensus rating of “Moderate Buy” and an average target price of $72.00.

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.