Kingswood Wealth Advisors LLC Has $348,000 Stock Holdings in TC Energy Corporation $TRP

Kingswood Wealth Advisors LLC lessened its holdings in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 30.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,140 shares of the pipeline company’s stock after selling 3,112 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in TC Energy were worth $348,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TRP. GAMMA Investing LLC raised its position in TC Energy by 4,621.3% in the first quarter. GAMMA Investing LLC now owns 6,657 shares of the pipeline company’s stock worth $314,000 after purchasing an additional 6,516 shares in the last quarter. Farther Finance Advisors LLC raised its position in TC Energy by 77.7% in the first quarter. Farther Finance Advisors LLC now owns 2,299 shares of the pipeline company’s stock worth $110,000 after purchasing an additional 1,005 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in TC Energy in the first quarter worth about $713,000. Elevation Point Wealth Partners LLC raised its position in TC Energy by 3.0% in the first quarter. Elevation Point Wealth Partners LLC now owns 21,271 shares of the pipeline company’s stock worth $1,004,000 after purchasing an additional 614 shares in the last quarter. Finally, Jackson Square Capital LLC raised its position in TC Energy by 18.7% in the first quarter. Jackson Square Capital LLC now owns 19,753 shares of the pipeline company’s stock worth $933,000 after purchasing an additional 3,118 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of TC Energy stock opened at $52.82 on Friday. 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 $54.95 billion, a P/E ratio of 18.03, a P/E/G ratio of 4.93 and a beta of 0.75. The firm has a 50 day simple moving average of $52.01 and a 200 day simple moving average of $49.78. TC Energy Corporation has a fifty-two week low of $43.51 and a fifty-two week high of $55.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The business had revenue of $1.82 billion during 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 quarter last year, the business posted $0.79 earnings per share. Sell-side 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 announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be issued a dividend of $0.6148 per share. 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%. This is a boost from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio (DPR) is presently 84.30%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TRP. US Capital Advisors lowered shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 21st. Wall Street Zen lowered shares of TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Cibc World Mkts lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a report on Wednesday. Finally, Barclays reaffirmed an “overweight” rating on shares of TC Energy in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.