TC Energy Corporation $TRP Shares Bought by Inspire Advisors LLC

Inspire Advisors LLC increased its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 37.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,719 shares of the pipeline company’s stock after acquiring an additional 4,866 shares during the period. Inspire Advisors LLC’s holdings in TC Energy were worth $864,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in TC Energy by 3.4% during the second quarter. Vanguard Group Inc. now owns 45,907,306 shares of the pipeline company’s stock worth $2,241,195,000 after purchasing an additional 1,509,328 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of TC Energy by 34.2% in the first quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock valued at $935,627,000 after buying an additional 5,053,228 shares in the last quarter. TD Asset Management Inc raised its stake in shares of TC Energy by 9.3% during the 2nd quarter. TD Asset Management Inc now owns 19,074,181 shares of the pipeline company’s stock worth $929,316,000 after buying an additional 1,618,441 shares during the last quarter. Bank of Nova Scotia raised its stake in shares of TC Energy by 80.3% during the 1st quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock worth $802,164,000 after buying an additional 7,562,887 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of TC Energy by 2,565.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock worth $769,815,000 after buying an additional 15,694,336 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on TRP. US Capital Advisors downgraded shares of TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Royal Bank Of Canada increased their price target on shares of TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of TC Energy in a research note on Thursday, November 13th. Cibc World Mkts lowered TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, Wall Street Zen cut TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.00.

TC Energy Stock Performance

NYSE:TRP opened at $54.17 on Wednesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The firm has a market cap of $56.37 billion, a PE ratio of 18.49, a P/E/G ratio of 4.82 and a beta of 0.73. The firm has a 50 day simple moving average of $52.51 and a 200-day simple moving average of $50.52. TC Energy Corporation has a 1-year low of $43.51 and a 1-year high of $55.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.56. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period last year, the company earned $1.03 EPS. On average, equities analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 annualized dividend and a dividend yield of 6.3%. TC Energy’s dividend payout ratio (DPR) is currently 103.88%.

TC Energy Company 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.