Sequoia Financial Advisors LLC Buys 2,444 Shares of TC Energy Corporation $TRP

Sequoia Financial Advisors LLC grew its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 21.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,983 shares of the pipeline company’s stock after buying an additional 2,444 shares during the period. Sequoia Financial Advisors LLC’s holdings in TC Energy were worth $682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hilltop National Bank bought a new stake in shares of TC Energy during the second quarter valued at approximately $32,000. TruNorth Capital Management LLC bought a new stake in shares of TC Energy during the first quarter valued at approximately $45,000. Truvestments Capital LLC bought a new stake in shares of TC Energy during the first quarter valued at approximately $45,000. Golden State Wealth Management LLC raised its position in shares of TC Energy by 222.2% during the first quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company’s stock valued at $51,000 after buying an additional 742 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its position in shares of TC Energy by 75.3% during the first quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company’s stock valued at $55,000 after buying an additional 501 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

Analysts Set New Price Targets

TRP has been the topic of several recent analyst reports. TD Securities reiterated a “buy” rating on shares of TC Energy in a research report on Friday. US Capital Advisors cut shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 21st. Cibc World Mkts cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Weiss Ratings restated a “buy (b-)” rating on shares of TC Energy in a research report on Wednesday, October 8th. Finally, Barclays restated an “overweight” rating on shares of TC Energy in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Trading Up 0.0%

TRP stock opened at $51.47 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. TC Energy Corporation has a twelve month low of $43.51 and a twelve month high of $55.37. The stock has a market capitalization of $53.54 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 4.84 and a beta of 0.75. The firm’s fifty day simple moving average is $52.27 and its two-hundred day simple moving average is $49.93.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the business posted $0.79 earnings per share. As a group, analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a dividend of $0.6148 per share. This represents a $2.46 dividend on an annualized basis and a yield of 4.8%. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, September 29th. TC Energy’s dividend payout ratio (DPR) is presently 84.30%.

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.