Kingswood Wealth Advisors LLC Sells 3,112 Shares of TC Energy Corporation $TRP

Kingswood Wealth Advisors LLC lowered its holdings in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 30.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,140 shares of the pipeline company’s stock after selling 3,112 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in TC Energy were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Park Avenue Securities LLC raised its holdings in shares of TC Energy by 2.3% during the 2nd quarter. Park Avenue Securities LLC now owns 9,947 shares of the pipeline company’s stock valued at $485,000 after purchasing an additional 225 shares in the last quarter. Gold Investment Management Ltd. raised its holdings in shares of TC Energy by 2.5% during the 2nd quarter. Gold Investment Management Ltd. now owns 9,656 shares of the pipeline company’s stock valued at $471,000 after purchasing an additional 232 shares in the last quarter. Baader Bank Aktiengesellschaft raised its holdings in shares of TC Energy by 4.4% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 6,325 shares of the pipeline company’s stock valued at $289,000 after purchasing an additional 264 shares in the last quarter. Compound Planning Inc. raised its holdings in shares of TC Energy by 2.1% during the 1st quarter. Compound Planning Inc. now owns 13,806 shares of the pipeline company’s stock valued at $652,000 after purchasing an additional 288 shares in the last quarter. Finally, Prudential PLC raised its holdings in shares of TC Energy by 5.2% during the 1st quarter. Prudential PLC now owns 6,536 shares of the pipeline company’s stock valued at $309,000 after purchasing an additional 326 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Up 0.2%

NYSE TRP opened at $52.82 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The firm has a 50-day simple moving average of $52.01 and a 200 day simple moving average of $49.78. TC Energy Corporation has a twelve month low of $43.51 and a twelve month high of $55.37. The stock has a market cap of $54.95 billion, a PE ratio of 18.03, a PEG ratio of 4.93 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the company earned $0.79 earnings per share. On average, research analysts forecast that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be paid a $0.6148 dividend. The ex-dividend date is Monday, September 29th. This is a boost from TC Energy’s previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a dividend yield of 4.7%. TC Energy’s dividend payout ratio is 84.30%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wall Street Zen downgraded shares of TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Barclays restated an “overweight” rating on shares of TC Energy in a report on Thursday, August 14th. US Capital Advisors cut shares of TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Weiss Ratings restated a “buy (b-)” rating on shares of TC Energy in a report on Wednesday. Finally, Cibc World Mkts cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.00.

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.