14,149 Shares in TC Energy Corporation $TRP Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC purchased a new position in shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 14,149 shares of the pipeline company’s stock, valued at approximately $938,000.

Several other institutional investors also recently bought and sold shares of the business. Ontario Teachers Pension Plan Board purchased a new position in TC Energy during the second quarter valued at $273,917,000. Korea Investment CORP purchased a new stake in shares of TC Energy during the second quarter worth about $30,152,000. Canada Pension Plan Investment Board acquired a new position in shares of TC Energy during the 2nd quarter worth about $1,148,244,000. Generali Asset Management SPA SGR raised its position in shares of TC Energy by 261.0% during the 4th quarter. Generali Asset Management SPA SGR now owns 74,906 shares of the pipeline company’s stock worth $4,121,000 after purchasing an additional 54,154 shares during the last quarter. Finally, BROOKFIELD Corp ON lifted its stake in TC Energy by 8.9% in the 1st quarter. BROOKFIELD Corp ON now owns 1,735,576 shares of the pipeline company’s stock valued at $108,647,000 after buying an additional 141,556 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Stock Performance

NYSE TRP opened at $61.87 on Monday. The stock’s fifty day moving average is $66.33 and its two-hundred day moving average is $65.37. The firm has a market capitalization of $64.46 billion, a P/E ratio of 25.67 and a beta of 0.66. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.54 and a current ratio of 0.61. TC Energy Corporation has a fifty-two week low of $49.27 and a fifty-two week high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period last year, the company earned $0.82 EPS. On average, research analysts anticipate that TC Energy Corporation will post 2.78 earnings per share for the current year.

TC Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be issued a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.7%. TC Energy’s dividend payout ratio is currently 102.49%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TRP. Weiss Ratings reiterated a “buy (b)” rating on shares of TC Energy in a report on Friday, July 31st. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st. TD Securities restated a “hold” rating on shares of TC Energy in a report on Thursday, July 16th. Finally, Morgan Stanley cut shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.00.

TC Energy Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.