TC Energy Corporation $TRP Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc reduced its stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 56.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 595 shares of the pipeline company’s stock after selling 781 shares during the quarter. AdvisorNet Financial Inc’s holdings in TC Energy were worth $29,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in shares of TC Energy by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 915,241 shares of the pipeline company’s stock worth $43,209,000 after acquiring an additional 10,227 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in TC Energy by 77.7% during the 1st quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company’s stock valued at $110,000 after purchasing an additional 1,005 shares during the period. Wealthstar Advisors LLC bought a new position in TC Energy in the 1st quarter worth about $432,000. FORA Capital LLC acquired a new stake in shares of TC Energy in the first quarter valued at approximately $776,000. Finally, Golden State Wealth Management LLC raised its position in shares of TC Energy by 222.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company’s stock worth $51,000 after buying an additional 742 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TRP has been the topic of several recent analyst reports. Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. US Capital Advisors cut TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Finally, Barclays restated an “overweight” rating on shares of TC Energy in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Stock Down 0.6%

Shares of NYSE:TRP opened at $53.39 on Friday. The company’s fifty day moving average is $50.72 and its 200-day moving average is $49.39. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. TC Energy Corporation has a 52 week low of $42.18 and a 52 week high of $54.18. The company has a market capitalization of $55.54 billion, a PE ratio of 18.22, a P/E/G ratio of 5.13 and a beta of 0.77.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly 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. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same period in the previous year, the business earned $0.79 earnings per share. Equities research analysts predict that TC Energy Corporation will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a $0.6148 dividend. This represents a $2.46 annualized dividend and a yield of 4.6%. The ex-dividend date is Monday, September 29th. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio is presently 85.32%.

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.