Glassman Wealth Services Has $28,000 Stock Holdings in TC Energy Co. (NYSE:TRP)

Glassman Wealth Services raised its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 61.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 726 shares of the pipeline company’s stock after acquiring an additional 275 shares during the period. Glassman Wealth Services’ holdings in TC Energy were worth $28,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRP. Assetmark Inc. raised its holdings in shares of TC Energy by 14.0% during the 4th quarter. Assetmark Inc. now owns 64,915 shares of the pipeline company’s stock worth $2,538,000 after buying an additional 7,993 shares in the last quarter. Corient Private Wealth LLC raised its holdings in shares of TC Energy by 25.3% during the 4th quarter. Corient Private Wealth LLC now owns 18,832 shares of the pipeline company’s stock worth $736,000 after buying an additional 3,808 shares in the last quarter. Hillsdale Investment Management Inc. raised its holdings in shares of TC Energy by 69.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 42,208 shares of the pipeline company’s stock worth $1,650,000 after buying an additional 17,250 shares in the last quarter. Norges Bank acquired a new position in shares of TC Energy during the 4th quarter worth $341,262,000. Finally, Financial Advocates Investment Management raised its holdings in shares of TC Energy by 5.4% during the 4th quarter. Financial Advocates Investment Management now owns 6,121 shares of the pipeline company’s stock worth $240,000 after buying an additional 316 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRP has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on TC Energy in a report on Tuesday, February 27th. They set a “hold” rating for the company. The Goldman Sachs Group upped their target price on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a report on Friday, January 26th. TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Stifel Nicolaus started coverage on TC Energy in a report on Thursday, January 18th. They issued a “buy” rating for the company. Finally, Barclays upped their target price on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $48.83.

TC Energy Trading Up 1.9 %

Shares of NYSE TRP traded up $0.68 during trading on Thursday, reaching $36.41. The company had a trading volume of 3,457,562 shares, compared to its average volume of 3,085,895. The company’s fifty day moving average price is $38.60 and its 200-day moving average price is $38.09. TC Energy Co. has a 12 month low of $32.51 and a 12 month high of $42.49. The stock has a market cap of $36.41 billion, a P/E ratio of 17.60, a PEG ratio of 3.09 and a beta of 0.76. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.93 billion. As a group, research analysts expect that TC Energy Co. will post 2.9 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a $0.714 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.86 annualized dividend and a yield of 7.84%. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s dividend payout ratio is presently 139.41%.

About TC Energy

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.