Keudell Morrison Wealth Management Buys New Position in TC Energy Corporation $TRP

Keudell Morrison Wealth Management bought a new stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 8,903 shares of the pipeline company’s stock, valued at approximately $490,000.

Several other hedge funds also recently modified their holdings of TRP. Mesirow Financial Investment Management Inc. raised its position in shares of TC Energy by 2.0% in the third quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock valued at $544,000 after buying an additional 200 shares during the last quarter. Gold Investment Management Ltd. boosted its position in TC Energy by 2.0% during the fourth quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock worth $549,000 after acquiring an additional 200 shares during the last quarter. Kennebec Savings Bank boosted its position in TC Energy by 2.1% during the fourth quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock worth $542,000 after acquiring an additional 203 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in TC Energy by 3.4% in the 3rd quarter. Checchi Capital Advisers LLC now owns 6,171 shares of the pipeline company’s stock worth $336,000 after acquiring an additional 204 shares during the period. Finally, JCIC Asset Management Inc. raised its holdings in TC Energy by 6.2% in the 4th quarter. JCIC Asset Management Inc. now owns 3,746 shares of the pipeline company’s stock valued at $206,000 after acquiring an additional 220 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Up 0.4%

Shares of NYSE TRP opened at $70.82 on Friday. The stock has a market capitalization of $70.82 billion, a PE ratio of 30.74 and a beta of 0.67. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The firm has a fifty day moving average of $64.23 and a 200-day moving average of $59.42. TC Energy Corporation has a 52-week low of $46.29 and a 52-week high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company posted $0.95 EPS. On average, analysts anticipate that TC Energy Corporation will post 2.75 EPS for the current year.

TC Energy Dividend Announcement

The company 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 $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Tuesday, June 30th. TC Energy’s dividend payout ratio (DPR) is 109.57%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TRP. BMO Capital Markets reissued an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. Canadian Imperial Bank of Commerce raised TC Energy from a “neutral” rating to a “sector outperform” rating in a research report on Thursday, April 23rd. Wall Street Zen upgraded TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Wells Fargo & Company reissued an “overweight” rating on shares of TC Energy in a research note on Monday, February 16th. Finally, Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.50.

About TC Energy

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.