Axxcess Wealth Management LLC Acquires Shares of 13,919 TC Energy Co. (NYSE:TRP)

Axxcess Wealth Management LLC acquired a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,919 shares of the pipeline company’s stock, valued at approximately $544,000.

A number of other hedge funds have also modified their holdings of TRP. Commonwealth Equity Services LLC boosted its stake in TC Energy by 10.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 92,505 shares of the pipeline company’s stock worth $3,183,000 after purchasing an additional 8,378 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of TC Energy by 7.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,146,617 shares of the pipeline company’s stock worth $73,865,000 after buying an additional 152,499 shares during the period. Assetmark Inc. grew its holdings in shares of TC Energy by 14.4% during the third quarter. Assetmark Inc. now owns 56,922 shares of the pipeline company’s stock worth $1,959,000 after buying an additional 7,180 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in TC Energy by 13.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,448,226 shares of the pipeline company’s stock valued at $84,425,000 after acquiring an additional 287,726 shares during the period. Finally, Grove Bank & Trust raised its stake in TC Energy by 13.2% during the 3rd quarter. Grove Bank & Trust now owns 16,918 shares of the pipeline company’s stock valued at $582,000 after acquiring an additional 1,969 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Trading Down 0.4 %

Shares of TRP opened at $37.49 on Wednesday. The firm’s 50-day moving average is $38.42 and its two-hundred day moving average is $38.18. TC Energy Co. has a twelve month low of $32.51 and a twelve month high of $42.49. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $37.49 billion, a P/E ratio of 19.32, a PEG ratio of 3.24 and a beta of 0.76.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.93 billion. TC Energy had a return on equity of 20.63% and a net margin of 17.23%. On average, research analysts predict that TC Energy Co. will post 2.9 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.58%. The ex-dividend date of this dividend is Friday, June 28th. TC Energy’s dividend payout ratio is currently 145.88%.

Analyst Ratings Changes

Several brokerages have weighed in on TRP. TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Barclays upped their price objective on shares of TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. The Goldman Sachs Group lifted their target price on shares of TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a report on Friday, January 26th. Jefferies Financial Group started coverage on shares of TC Energy in a research note on Tuesday, February 27th. They set a “hold” rating on the stock. Finally, Stifel Nicolaus assumed coverage on shares of TC Energy in a research report on Thursday, January 18th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, TC Energy presently has an average rating of “Hold” and a consensus price target of $48.83.

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.