Foundations Investment Advisors LLC increased its holdings in TC Energy Corporation (NYSE:TRP – Free Report) (TSE:TRP) by 101.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,871 shares of the pipeline company’s stock after purchasing an additional 13,054 shares during the quarter. Foundations Investment Advisors LLC’s holdings in TC Energy were worth $1,423,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Advisors Asset Management Inc. grew its stake in shares of TC Energy by 38.8% in the third quarter. Advisors Asset Management Inc. now owns 88,140 shares of the pipeline company’s stock worth $4,796,000 after purchasing an additional 24,617 shares during the last quarter. Citigroup Inc. grew its stake in shares of TC Energy by 19.2% in the third quarter. Citigroup Inc. now owns 378,086 shares of the pipeline company’s stock worth $20,562,000 after purchasing an additional 61,013 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of TC Energy by 2.0% in the third quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company’s stock worth $2,545,777,000 after purchasing an additional 914,168 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of TC Energy by 80.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 526,181 shares of the pipeline company’s stock worth $28,945,000 after purchasing an additional 234,594 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in shares of TC Energy by 15.1% in the third quarter. Jones Financial Companies Lllp now owns 299,250 shares of the pipeline company’s stock worth $15,999,000 after purchasing an additional 39,320 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.
TC Energy Price Performance
Shares of NYSE TRP opened at $66.67 on Friday. The firm’s 50-day moving average price is $64.71 and its 200-day moving average price is $60.05. TC Energy Corporation has a 1-year low of $46.29 and a 1-year high of $71.47. The firm has a market capitalization of $66.67 billion, a P/E ratio of 28.94 and a beta of 0.67. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67.
TC Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.8775 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 annualized dividend and a dividend yield of 5.3%. TC Energy’s dividend payout ratio is currently 109.57%.
Wall Street Analysts Forecast Growth
TRP has been the topic of several analyst reports. Wall Street Zen raised shares of TC Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Wells Fargo & Company reissued an “overweight” rating on shares of TC Energy in a research note on Monday, February 16th. The Goldman Sachs Group raised shares of TC Energy from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $53.00 to $62.00 in a research note on Monday, April 20th. Weiss Ratings cut shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.50.
Check Out Our Latest Stock Report on TRP
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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