Lantz Financial LLC boosted its position in shares of TC Energy Co. (NYSE:TRP – Free Report) (TSE:TRP) by 11.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,588 shares of the pipeline company’s stock after purchasing an additional 802 shares during the quarter. Lantz Financial LLC’s holdings in TC Energy were worth $307,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its holdings in shares of TC Energy by 197.3% in the first quarter. Jones Financial Companies Lllp now owns 669 shares of the pipeline company’s stock valued at $26,000 after buying an additional 444 shares during the period. CoreCap Advisors LLC acquired a new position in shares of TC Energy in the fourth quarter valued at approximately $30,000. GPS Wealth Strategies Group LLC acquired a new position in TC Energy during the first quarter worth $37,000. Money Concepts Capital Corp boosted its holdings in TC Energy by 149.1% during the fourth quarter. Money Concepts Capital Corp now owns 949 shares of the pipeline company’s stock worth $38,000 after purchasing an additional 568 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in TC Energy by 152.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,028 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 620 shares during the last quarter. Institutional investors and hedge funds own 73.67% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. StockNews.com assumed coverage on shares of TC Energy in a research report on Thursday, August 17th. They set a “hold” rating on the stock. TheStreet lowered shares of TC Energy from a “b-” rating to a “c” rating in a research report on Friday, July 28th. CIBC lowered shares of TC Energy from a “sector outperform” rating to a “neutral” rating in a research report on Monday, July 24th. Scotiabank lowered their price target on shares of TC Energy from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Monday, July 31st. Finally, BMO Capital Markets lowered shares of TC Energy from an “outperform” rating to a “market perform” rating in a research report on Friday, July 28th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $56.83.
TC Energy Trading Up 1.2 %
NYSE TRP traded up $0.46 during trading hours on Tuesday, reaching $37.72. The company’s stock had a trading volume of 93,788 shares, compared to its average volume of 2,203,578. The firm has a fifty day simple moving average of $36.70 and a 200-day simple moving average of $39.04. The stock has a market cap of $39.13 billion, a P/E ratio of 51.75, a P/E/G ratio of 2.94 and a beta of 0.84. TC Energy Co. has a 52 week low of $33.02 and a 52 week high of $49.51. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.61 and a quick ratio of 0.52.
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last issued its quarterly earnings data on Thursday, July 27th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.02). The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.74 billion. TC Energy had a net margin of 6.89% and a return on equity of 13.80%. Equities analysts forecast that TC Energy Co. will post 3.19 earnings per share for the current fiscal year.
TC Energy Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a dividend of $0.702 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.69. The ex-dividend date is Thursday, September 28th. This represents a $2.81 annualized dividend and a yield of 7.44%. TC Energy’s dividend payout ratio (DPR) is presently 390.28%.
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 93,700 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.
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