EP Wealth Advisors LLC Purchases New Position in TC Energy Corporation $TRP

EP Wealth Advisors LLC purchased a new stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) in the 2nd quarter, HoldingsChannel reports. The fund purchased 12,348 shares of the pipeline company’s stock, valued at approximately $819,000.

Other hedge funds also recently added to or reduced their stakes in the company. Groupe la Francaise boosted its position in shares of TC Energy by 2.1% in the first quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock worth $459,000 after buying an additional 154 shares during the period. Wealthstar Advisors LLC raised its holdings in shares of TC Energy by 1.5% during the 1st quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company’s stock valued at $718,000 after buying an additional 165 shares during the period. Nations Financial Group Inc. IA ADV raised its holdings in shares of TC Energy by 5.7% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company’s stock valued at $245,000 after buying an additional 210 shares during the period. Arax Advisory Partners lifted its position in TC Energy by 7.9% during the 4th quarter. Arax Advisory Partners now owns 3,029 shares of the pipeline company’s stock worth $167,000 after acquiring an additional 221 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in TC Energy by 5.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,223 shares of the pipeline company’s stock worth $232,000 after acquiring an additional 232 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Up 0.0%

TRP opened at $62.04 on Monday. The stock has a market capitalization of $64.64 billion, a PE ratio of 25.74 and a beta of 0.66. The firm’s fifty day moving average price is $66.95 and its 200 day moving average price is $65.29. 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 Corporation has a 12-month low of $49.27 and a 12-month high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same period last year, the business earned $0.82 EPS. As a group, research analysts expect that TC Energy Corporation will post 2.78 EPS for the current fiscal year.

TC Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be given a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $3.51 annualized dividend and a dividend yield of 5.7%. TC Energy’s dividend payout ratio (DPR) is presently 102.49%.

Wall Street Analyst Weigh In

Several analysts have issued reports on TRP shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TC Energy in a research report on Friday, July 31st. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday. National Bank Financial raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada lifted their price target on shares of TC Energy from $104.00 to $106.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

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.