Ingalls & Snyder LLC Has $1.06 Million Holdings in TC Energy Corporation $TRP

Ingalls & Snyder LLC raised its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,815 shares of the pipeline company’s stock after acquiring an additional 800 shares during the quarter. Ingalls & Snyder LLC’s holdings in TC Energy were worth $1,064,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of TRP. Spire Wealth Management grew its position in shares of TC Energy by 102.7% during the 1st quarter. Spire Wealth Management now owns 2,171 shares of the pipeline company’s stock worth $102,000 after buying an additional 1,100 shares during the period. Golden State Wealth Management LLC grew its holdings in 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 purchasing an additional 742 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of TC Energy by 13.4% during the first quarter. Sequoia Financial Advisors LLC now owns 11,539 shares of the pipeline company’s stock worth $545,000 after acquiring an additional 1,362 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of TC Energy by 5.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 231,297 shares of the pipeline company’s stock valued at $11,056,000 after purchasing an additional 11,322 shares during the period. Finally, Wealthstar Advisors LLC acquired a new stake in shares of TC Energy in the 1st quarter valued at about $432,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Down 1.2%

Shares of TRP opened at $50.38 on Monday. TC Energy Corporation has a one year low of $43.51 and a one year high of $55.37. The company has a market cap of $52.41 billion, a P/E ratio of 17.19, a P/E/G ratio of 4.82 and a beta of 0.75. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The firm has a 50 day simple moving average of $52.32 and a two-hundred day simple moving average of $50.14.

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

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be issued a dividend of $0.6148 per share. This represents a $2.46 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Monday, September 29th. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s payout ratio is presently 84.30%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TRP shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a research note on Friday. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research report on Monday, October 20th. Wall Street Zen lowered shares of TC Energy from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Cibc World Mkts cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, Barclays restated an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.00.

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.