Ingalls & Snyder LLC Purchases 800 Shares of TC Energy Corporation $TRP

Ingalls & Snyder LLC grew its position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 3.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,815 shares of the pipeline company’s stock after purchasing an additional 800 shares during the quarter. Ingalls & Snyder LLC’s holdings in TC Energy were worth $1,064,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of TRP. Sumitomo Mitsui Trust Group Inc. raised its holdings in TC Energy by 4.6% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 40,078 shares of the pipeline company’s stock worth $1,955,000 after buying an additional 1,768 shares during the last quarter. FSM Wealth Advisors LLC lifted its position in shares of TC Energy by 7.6% during the second quarter. FSM Wealth Advisors LLC now owns 5,546 shares of the pipeline company’s stock valued at $263,000 after purchasing an additional 394 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of TC Energy by 23.9% during the second quarter. Bleakley Financial Group LLC now owns 71,233 shares of the pipeline company’s stock valued at $3,475,000 after purchasing an additional 13,749 shares in the last quarter. apricus wealth LLC lifted its position in shares of TC Energy by 1.7% during the second quarter. apricus wealth LLC now owns 55,895 shares of the pipeline company’s stock valued at $2,727,000 after purchasing an additional 935 shares in the last quarter. Finally, Lorne Steinberg Wealth Management Inc. lifted its position in shares of TC Energy by 1.5% during the second quarter. Lorne Steinberg Wealth Management Inc. now owns 183,456 shares of the pipeline company’s stock valued at $8,962,000 after purchasing an additional 2,738 shares in the last quarter. 83.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on TRP. TD Securities reissued a “buy” rating on shares of TC Energy in a research report on Friday, October 17th. 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 downgraded shares of TC Energy from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Finally, Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, TC Energy currently has an average rating of “Moderate Buy” and an average target price of $72.00.

TC Energy Price Performance

Shares of NYSE TRP opened at $50.38 on Monday. TC Energy Corporation has a 1 year low of $43.51 and a 1 year high of $55.37. 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 company’s 50-day moving average is $52.32 and its 200 day moving average is $50.14. The stock has a market capitalization of $52.41 billion, a P/E ratio of 17.19, a P/E/G ratio of 4.82 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last posted 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 analysts’ expectations 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 in the prior year, the company posted $0.79 earnings per share. On average, sell-side analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid a $0.6148 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Monday, September 29th. This is a boost from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio (DPR) is currently 84.30%.

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.