TC Energy Corporation $TRP Shares Purchased by Wealthstar Advisors LLC

Wealthstar Advisors LLC grew its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 45.3% in the second quarter, Holdings Channel.com reports. The fund owned 13,289 shares of the pipeline company’s stock after purchasing an additional 4,146 shares during the period. Wealthstar Advisors LLC’s holdings in TC Energy were worth $648,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of TC Energy by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 44,397,978 shares of the pipeline company’s stock worth $2,096,739,000 after purchasing an additional 710,837 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in TC Energy by 34.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock worth $935,627,000 after acquiring an additional 5,053,228 shares during the period. TD Asset Management Inc grew its stake in TC Energy by 6.2% in the 1st quarter. TD Asset Management Inc now owns 17,455,740 shares of the pipeline company’s stock worth $824,243,000 after acquiring an additional 1,018,590 shares during the period. Bank of Nova Scotia grew its stake in TC Energy by 80.3% in the 1st quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock worth $802,164,000 after acquiring an additional 7,562,887 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in 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 acquiring an additional 15,694,336 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Down 2.8%

Shares of NYSE TRP opened at $52.70 on Friday. TC Energy Corporation has a 52-week low of $43.51 and a 52-week high of $55.37. The firm has a fifty day moving average of $51.92 and a 200-day moving average of $49.75. The stock has a market capitalization of $54.83 billion, a PE ratio of 17.99, a P/E/G ratio of 5.07 and a beta of 0.75. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the business posted $0.79 EPS. On average, analysts anticipate that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

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

Analyst Upgrades and Downgrades

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