Envestnet Asset Management Inc. Has $68.58 Million Stake in TC Energy Corporation $TRP

Envestnet Asset Management Inc. raised its position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,405,905 shares of the pipeline company’s stock after buying an additional 22,381 shares during the period. Envestnet Asset Management Inc.’s holdings in TC Energy were worth $68,580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. New Hampshire Trust increased its holdings in shares of TC Energy by 5.7% during the second quarter. New Hampshire Trust now owns 9,001 shares of the pipeline company’s stock worth $439,000 after buying an additional 483 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of TC Energy in the second quarter valued at approximately $219,000. Ingalls & Snyder LLC increased its holdings in shares of TC Energy by 3.8% in the second quarter. Ingalls & Snyder LLC now owns 21,815 shares of the pipeline company’s stock valued at $1,064,000 after purchasing an additional 800 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of TC Energy by 4.6% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 40,078 shares of the pipeline company’s stock valued at $1,955,000 after purchasing an additional 1,768 shares in the last quarter. Finally, FSM Wealth Advisors LLC increased its holdings in shares of TC Energy by 7.6% in 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. Institutional investors and hedge funds own 83.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on TRP shares. Wall Street Zen lowered shares of TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Scotiabank reissued an “outperform” rating on shares of TC Energy in a report on Monday, October 20th. US Capital Advisors lowered shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a research note on Wednesday, October 8th. Finally, Cibc World Mkts lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

TC Energy Price Performance

TRP opened at $50.48 on Friday. The company has a fifty day moving average price of $52.27 and a two-hundred day moving average price of $50.23. 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 $43.51 and a 52 week high of $55.37. The firm has a market capitalization of $52.53 billion, a PE ratio of 17.23, a P/E/G ratio of 4.82 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the business earned $0.79 EPS. As a group, analysts anticipate that TC Energy Corporation will post 2.63 earnings per share for the current year.

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.