SG Americas Securities LLC Buys Shares of 59,468 TC Energy Corporation $TRP

SG Americas Securities LLC bought a new stake in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 59,468 shares of the pipeline company’s stock, valued at approximately $2,901,000.

A number of other institutional investors have also made changes to their positions in TRP. Park Avenue Securities LLC raised its holdings in TC Energy by 2.3% in the 2nd quarter. Park Avenue Securities LLC now owns 9,947 shares of the pipeline company’s stock valued at $485,000 after acquiring an additional 225 shares in the last quarter. Gold Investment Management Ltd. increased its holdings in TC Energy by 2.5% during the 2nd quarter. Gold Investment Management Ltd. now owns 9,656 shares of the pipeline company’s stock valued at $471,000 after purchasing an additional 232 shares in the last quarter. Baader Bank Aktiengesellschaft raised its position in TC Energy by 4.4% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 6,325 shares of the pipeline company’s stock valued at $289,000 after purchasing an additional 264 shares during the last quarter. Compound Planning Inc. boosted its stake in TC Energy by 2.1% in the first quarter. Compound Planning Inc. now owns 13,806 shares of the pipeline company’s stock worth $652,000 after purchasing an additional 288 shares in the last quarter. Finally, Prudential PLC increased its stake in shares of TC Energy by 5.2% in the first quarter. Prudential PLC now owns 6,536 shares of the pipeline company’s stock valued at $309,000 after buying an additional 326 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on TRP. BMO Capital Markets upgraded TC Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, November 7th. Cibc World Mkts downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. 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. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research report on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of TC Energy in a report on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $77.00.

TC Energy Stock Down 0.6%

Shares of TRP stock opened at $54.17 on Wednesday. TC Energy Corporation has a 52-week low of $43.51 and a 52-week high of $55.37. The stock has a market cap of $56.37 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 4.82 and a beta of 0.73. The firm’s 50-day moving average is $52.51 and its 200-day moving average is $50.52. 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 (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.56. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the prior year, the business earned $1.03 EPS. Sell-side analysts predict that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 annualized dividend and a dividend yield of 6.3%. TC Energy’s dividend payout ratio (DPR) is currently 103.88%.

TC Energy Company 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.