Olistico Wealth LLC Makes New $53,000 Investment in TC Energy Co. (NYSE:TRP)

Olistico Wealth LLC acquired a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,400 shares of the pipeline company’s stock, valued at approximately $53,000.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in TC Energy during the 4th quarter worth $2,050,000. Venture Visionary Partners LLC bought a new position in shares of TC Energy in the fourth quarter worth approximately $209,000. DekaBank Deutsche Girozentrale increased its position in shares of TC Energy by 39.9% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 183,933 shares of the pipeline company’s stock worth $7,151,000 after purchasing an additional 52,495 shares during the last quarter. 180 Wealth Advisors LLC grew its position in TC Energy by 10.5% during the fourth quarter. 180 Wealth Advisors LLC now owns 17,152 shares of the pipeline company’s stock valued at $674,000 after acquiring an additional 1,635 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its position in TC Energy by 1.4% during the fourth quarter. Bleakley Financial Group LLC now owns 114,184 shares of the pipeline company’s stock valued at $4,464,000 after acquiring an additional 1,562 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of TRP traded up $0.12 during mid-day trading on Wednesday, hitting $43.10. 2,027,789 shares of the stock were exchanged, compared to its average volume of 3,009,858. The company has a market cap of $43.10 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 3.52 and a beta of 0.79. TC Energy Co. has a 52-week low of $32.51 and a 52-week high of $43.71. The firm has a 50-day moving average of $39.52 and a two-hundred day moving average of $38.91. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.85 and a current ratio of 0.94.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.29. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a return on equity of 19.07% and a net margin of 21.31%. During the same quarter in the previous year, the company posted $0.71 EPS. On average, equities analysts predict that TC Energy Co. will post 3.04 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is currently 144.85%.

Analyst Upgrades and Downgrades

Separately, Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, TC Energy currently has an average rating of “Hold” and a consensus price target of $44.67.

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.