TC Energy Corporation $TRP Shares Acquired by Tectonic Advisors LLC

Tectonic Advisors LLC boosted its stake in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 54.5% in the 2nd quarter, Holdings Channel reports. The firm owned 19,192 shares of the pipeline company’s stock after purchasing an additional 6,771 shares during the period. Tectonic Advisors LLC’s holdings in TC Energy were worth $936,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Hilltop National Bank acquired a new stake in TC Energy in the 2nd quarter valued at approximately $32,000. TruNorth Capital Management LLC acquired a new stake in TC Energy in the 1st quarter valued at approximately $45,000. Truvestments Capital LLC acquired a new stake in TC Energy in the 1st quarter valued at approximately $45,000. Golden State Wealth Management LLC increased its holdings in TC Energy by 222.2% in the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company’s stock valued at $51,000 after purchasing an additional 742 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings in TC Energy by 75.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company’s stock valued at $55,000 after purchasing an additional 501 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of NYSE:TRP opened at $52.70 on Friday. The company has a 50-day simple moving average of $51.92 and a 200-day simple moving average of $49.75. TC Energy Corporation has a one year low of $43.51 and a one year high of $55.37. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The stock has a market capitalization of $54.83 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 5.07 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the company earned $0.79 earnings per share. On average, analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be paid a dividend of $0.6148 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.7%. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, September 29th. TC Energy’s dividend payout ratio (DPR) is presently 84.30%.

Analyst Ratings Changes

Several equities analysts have commented on TRP shares. Barclays restated an “overweight” rating on shares of TC Energy in a research note on Thursday, August 14th. US Capital Advisors cut shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of TC Energy in a research report on Wednesday. Finally, Wall Street Zen cut shares of TC Energy from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Profile

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.