Creative Planning Grows Stock Position in TC Energy Corporation $TRP

Creative Planning raised its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 12.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,969 shares of the pipeline company’s stock after acquiring an additional 5,703 shares during the quarter. Creative Planning’s holdings in TC Energy were worth $2,584,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Avantax Advisory Services Inc. raised its position in shares of TC Energy by 3.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 9,908 shares of the pipeline company’s stock worth $468,000 after purchasing an additional 344 shares during the last quarter. Cetera Investment Advisers increased its position in TC Energy by 4.3% during the first quarter. Cetera Investment Advisers now owns 107,761 shares of the pipeline company’s stock worth $5,089,000 after buying an additional 4,437 shares in the last quarter. Mediolanum International Funds Ltd raised its holdings in shares of TC Energy by 81.2% in the first quarter. Mediolanum International Funds Ltd now owns 75,426 shares of the pipeline company’s stock worth $3,634,000 after acquiring an additional 33,806 shares during the last quarter. HB Wealth Management LLC lifted its position in shares of TC Energy by 83.9% in the first quarter. HB Wealth Management LLC now owns 10,667 shares of the pipeline company’s stock valued at $504,000 after acquiring an additional 4,867 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of TC Energy by 6.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 352,092 shares of the pipeline company’s stock valued at $16,625,000 after acquiring an additional 21,763 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

TC Energy stock opened at $53.70 on Tuesday. The company has a market cap of $55.88 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 4.82 and a beta of 0.73. TC Energy Corporation has a 12 month low of $43.51 and a 12 month high of $55.37. 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 stock’s 50-day moving average is $52.67 and its 200-day moving average is $50.63.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.56. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the previous year, the business earned $1.03 EPS. Equities analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. US Capital Advisors downgraded shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Citigroup reissued a “neutral” rating on shares of TC Energy in a research note on Thursday. Scotiabank restated an “outperform” rating on shares of TC Energy in a research report on Monday, October 20th. BMO Capital Markets upgraded TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, November 7th. Finally, Cibc Captl Mkts raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

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.