Envestnet Asset Management Inc. Has $68.58 Million Holdings in TC Energy Corporation $TRP

Envestnet Asset Management Inc. boosted its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,405,905 shares of the pipeline company’s stock after purchasing an additional 22,381 shares during the quarter. Envestnet Asset Management Inc. owned 0.14% of TC Energy worth $68,580,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TRP. Hilltop National Bank bought a new stake in shares of TC Energy in the second quarter valued at about $32,000. Harbor Asset Planning Inc. bought a new stake in shares of TC Energy in the second quarter valued at about $43,000. TruNorth Capital Management LLC bought a new stake in shares of TC Energy in the first quarter valued at about $45,000. Truvestments Capital LLC bought a new stake in shares of TC Energy in the first quarter valued at about $45,000. Finally, SBI Securities Co. Ltd. lifted its stake in shares of TC Energy by 75.3% in 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 period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Barclays reiterated an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. TD Securities reiterated a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. US Capital Advisors cut shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of TC Energy from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, TC Energy presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

TC Energy Stock Up 0.2%

TRP opened at $50.48 on Friday. The firm’s 50-day simple moving average is $52.27 and its 200-day simple moving average is $50.23. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. TC Energy Corporation has a twelve month low of $43.51 and a twelve month high of $55.37. The firm has a market cap of $52.53 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 4.82 and a beta of 0.75.

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

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.