Dickmeyer Boyce Financial Management Inc. Acquires Shares of 10,073 TC Energy Corporation $TRP

Dickmeyer Boyce Financial Management Inc. bought a new position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,073 shares of the pipeline company’s stock, valued at approximately $631,000.

Several other institutional investors and hedge funds have also made changes to their positions in TRP. Sterling Capital Management LLC bought a new position in shares of TC Energy in the first quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in TC Energy in the 4th quarter worth about $25,000. Trust Co. of Vermont bought a new stake in TC Energy during the 4th quarter valued at about $28,000. McIlrath & Eck LLC bought a new stake in TC Energy during the 4th quarter valued at about $32,000. Finally, SWAN Capital LLC purchased a new stake in TC Energy in the 3rd quarter valued at about $40,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Trading Up 0.0%

Shares of NYSE TRP opened at $69.86 on Friday. TC Energy Corporation has a 1-year low of $46.61 and a 1-year high of $71.47. The business has a fifty day moving average price of $68.56 and a 200 day moving average price of $63.88. The stock has a market capitalization of $72.79 billion, a P/E ratio of 30.32 and a beta of 0.66. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same quarter in the prior year, the company posted $0.95 earnings per share. Equities research analysts expect that TC Energy Corporation will post 2.72 EPS for the current fiscal year.

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.0%. TC Energy’s payout ratio is presently 107.39%.

Analyst Upgrades and Downgrades

TRP has been the subject of a number of research reports. Weiss Ratings lowered TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 4th. The Goldman Sachs Group upgraded TC Energy from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $53.00 to $62.00 in a report on Monday, April 20th. Morgan Stanley lowered TC Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 10th. Royal Bank Of Canada upped their target price on TC Energy from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. 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 equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, TC Energy has a consensus rating of “Moderate Buy” and an average price target of $78.50.

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.