Kingsview Wealth Management LLC bought a new position in TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,149 shares of the pipeline company’s stock, valued at approximately $938,000.
Several other hedge funds have also modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in TC Energy during the fourth quarter valued at approximately $25,000. Sterling Capital Management LLC purchased a new stake in shares of TC Energy during the 1st quarter valued at $26,000. McIlrath & Eck LLC purchased a new position in TC Energy during the 4th quarter worth $32,000. Trust Co. of Vermont acquired a new position in TC Energy during the 2nd quarter valued at about $33,000. Finally, SWAN Capital LLC purchased a new stake in TC Energy in the third quarter valued at about $40,000. 83.13% of the stock is owned by hedge funds and other institutional investors.
TC Energy Trading Up 0.0%
NYSE TRP opened at $61.87 on Monday. The company has a market capitalization of $64.46 billion, a PE ratio of 25.67 and a beta of 0.66. The company has a fifty day moving average of $66.33 and a 200 day moving average of $65.37. TC Energy Corporation has a 1 year low of $49.27 and a 1 year high of $71.47. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54.
TC Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be given a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 5.7%. The ex-dividend date is Tuesday, September 29th. TC Energy’s dividend payout ratio is currently 102.49%.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on TRP. Morgan Stanley downgraded shares of TC Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 10th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Royal Bank Of Canada raised their price target on shares of TC Energy from $104.00 to $106.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. TD Securities reissued a “hold” rating on shares of TC Energy in a report on Thursday, July 16th. Finally, National Bank Financial raised TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, TC Energy has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.
Get Our Latest Report on TC Energy
TC Energy Company Profile
TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.
The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.
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