Sagespring Wealth Partners LLC Buys 1,480 Shares of TC Energy Corporation $TRP

Sagespring Wealth Partners LLC grew its position in TC Energy Corporation (NYSE:TRPFree Report) (TSE:TRP) by 34.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,721 shares of the pipeline company’s stock after acquiring an additional 1,480 shares during the period. Sagespring Wealth Partners LLC’s holdings in TC Energy were worth $279,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. TD Asset Management Inc raised its position in TC Energy by 9.3% in the second quarter. TD Asset Management Inc now owns 19,074,181 shares of the pipeline company’s stock valued at $929,316,000 after purchasing an additional 1,618,441 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in TC Energy by 1.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 44,867 shares of the pipeline company’s stock worth $2,188,000 after buying an additional 443 shares during the period. Sequoia Financial Advisors LLC grew its holdings in TC Energy by 21.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 13,983 shares of the pipeline company’s stock worth $682,000 after acquiring an additional 2,444 shares during the last quarter. Yousif Capital Management LLC increased its position in TC Energy by 8.1% in the 2nd quarter. Yousif Capital Management LLC now owns 14,498 shares of the pipeline company’s stock valued at $707,000 after acquiring an additional 1,090 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of TC Energy by 6.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,584 shares of the pipeline company’s stock worth $712,000 after purchasing an additional 873 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Trading Up 0.0%

NYSE TRP opened at $51.47 on Friday. TC Energy Corporation has a 52 week low of $43.51 and a 52 week high of $55.37. The business has a 50 day moving average price of $52.27 and a 200-day moving average price of $49.92. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. The company has a market cap of $53.54 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 4.84 and a beta of 0.75.

TC Energy (NYSE:TRPGet Free Report) (TSE:TRP) last released its quarterly earnings data 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. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. As a group, equities analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current fiscal 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 $0.6148 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 4.8%. 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 currently 84.30%.

Wall Street Analyst Weigh In

Several research analysts have commented on TRP shares. US Capital Advisors downgraded TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Wall Street Zen cut TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of TC Energy in a report on Wednesday, October 8th. Cibc World Mkts lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, TD Securities reaffirmed a “buy” rating on shares of TC Energy in a research report on Friday. One research 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.00.

View Our Latest Research Report on TRP

TC Energy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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