Elevation Point Wealth Partners LLC Purchases 614 Shares of TC Energy Co. (NYSE:TRP)

Elevation Point Wealth Partners LLC grew its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.0% during the first quarter, HoldingsChannel.com reports. The fund owned 21,271 shares of the pipeline company’s stock after acquiring an additional 614 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in TC Energy were worth $1,004,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in TC Energy by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company’s stock worth $2,035,952,000 after acquiring an additional 734,678 shares during the last quarter. FIL Ltd increased its stake in TC Energy by 10.3% in the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company’s stock worth $1,325,558,000 after acquiring an additional 2,644,627 shares during the last quarter. TD Asset Management Inc. increased its stake in TC Energy by 2.1% in the 4th quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company’s stock worth $765,627,000 after acquiring an additional 344,485 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in TC Energy by 9.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company’s stock worth $686,763,000 after acquiring an additional 1,280,000 shares during the last quarter. Finally, Norges Bank bought a new position in shares of TC Energy during the 4th quarter valued at approximately $428,759,000. Institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Cibc World Mkts raised TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 2nd. CIBC raised TC Energy from a “neutral” rating to a “sector outperform” rating in a research report on Friday, May 2nd. Royal Bank of Canada boosted their target price on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Citigroup assumed coverage on TC Energy in a research report on Friday, April 4th. They set a “neutral” rating on the stock. Finally, Wall Street Zen downgraded TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Performance

Shares of TC Energy stock opened at $49.54 on Friday. The stock’s fifty day moving average is $49.44 and its two-hundred day moving average is $47.69. The company has a market capitalization of $51.50 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. TC Energy Co. has a 52 week low of $37.07 and a 52 week high of $51.99.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $2.57 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period last year, the company earned $1.02 EPS. As a group, analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.6142 dividend. This represents a $2.46 annualized dividend and a dividend yield of 4.96%. The ex-dividend date is Monday, June 30th. TC Energy’s dividend payout ratio is 81.52%.

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.