TC Energy Corporation $TRP Shares Sold by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC trimmed its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 18.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,177 shares of the pipeline company’s stock after selling 1,397 shares during the period. Foundations Investment Advisors LLC’s holdings in TC Energy were worth $301,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allianz SE purchased a new position in shares of TC Energy during the 2nd quarter worth $7,445,000. Geode Capital Management LLC lifted its position in TC Energy by 21.2% in the second quarter. Geode Capital Management LLC now owns 8,189,585 shares of the pipeline company’s stock valued at $401,483,000 after buying an additional 1,432,270 shares during the last quarter. Vise Technologies Inc. purchased a new position in TC Energy during the second quarter worth about $507,000. Allworth Financial LP boosted its stake in TC Energy by 31.7% during the second quarter. Allworth Financial LP now owns 1,848 shares of the pipeline company’s stock worth $90,000 after buying an additional 445 shares during the period. Finally, ProShare Advisors LLC increased its position in shares of TC Energy by 5.6% during the second quarter. ProShare Advisors LLC now owns 110,091 shares of the pipeline company’s stock valued at $5,375,000 after acquiring an additional 5,796 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Down 0.8%

NYSE:TRP opened at $54.25 on Friday. TC Energy Corporation has a 12-month low of $43.51 and a 12-month high of $55.37. The firm has a market cap of $56.45 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 4.82 and a beta of 0.73. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. The stock has a fifty day moving average price of $52.61 and a 200 day moving average price of $50.58.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $2.63 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 earned $1.03 EPS. Sell-side analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 6.3%. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Wednesday, December 31st. TC Energy’s dividend payout ratio is 103.88%.

Analyst Ratings Changes

TRP has been the subject of a number of research analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research report on Monday, October 20th. Barclays restated an “overweight” rating on shares of TC Energy in a research report on Tuesday, October 14th. BMO Capital Markets upgraded TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, November 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of TC Energy in a research note on Wednesday. Finally, Cibc World Mkts downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

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.